GDP stands for gross domestic product. The GDP allows economist to measure the market value in terms of money. They are measuring the final good or service that is being offered to a customer over any given time.
Since the first bag of flour is being sold to a bakery to make bread from and sell for $4.00 the GDP of this item is $4.00 because that is the cost a customer is paying.
The second bag of flour is sold to a customer for $2.00 in a grocery store and is the final cost a they are paying.
In this scenario, the GDP for the two products being sold to a customer is $6.00.
Answer:
d. input/outcome ratio
Explanation:
These are options for the question
a. input ratio
b. output ratio
c. outcome/input ratio
d. input/outcome ratio
e. manager/employee ratio
Exchange relationship which is opposite of communal relationship can be described as benefit relationship in which you provide a benefit in expectation of equivalent benefit return in future time.
It should be noted that input/outcome ratio is used in the calculation of exchange relationship you received.
Which is the value of the inputs you provide per the value of the outcomes been received
Answer:
R=407.11$
Explanation:
Since the Marie wants to contribute equal amount per month in order to get the $3,000,000 after 40 years, therefore the future value of annuity formula shall be applied to the given question to solve the problem.
Future value of annuity=R[((1+i)^n-1)/i]
R=monthly investment to be made=?
n=number of payments involved=40*12=480
i= interest rate=10.5%/12=0.875%
Future value of annuity=$3,000,000
$3,000,000=R[((1+0.875%)^480-1)/0.875%]
R=407.11$
Answer:
B. Collateral promise.
Explanation:
Collateral promise refers to a promise to pay the debt of another that is ancillary to an original promise. It is an undertaking which renders the promisor a guarantor or surety upon a debt owing by a third person who is primarily liable. It is not made for the benefit of the party making it.
Reducing the duration of patent law protection. This would allow firms to recover the costs associated with developing a new product but prevent firms from earning outlandish profits.
Answer: Option D.
<u>Explanation:</u>
The major motive and aim of patent is to increase and encourage the motivation of the producers to innovate and produce new things which can increase the efficiency in the process of production. This is done to increase the innovation.
But if the time of patent of a particular good is reduced then the firm will be able to cover it's cost on the innovation but it would not lead to any kind of inefficiencies as others will also be able to use it after patent is over.
