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Mkey [24]
3 years ago
8

Define business inventories and explain how they are counted in GDP.

Business
1 answer:
Liono4ka [1.6K]3 years ago
8 0

Answer:

Business Inventories refer to the excess of goods produced over goods sold. In a given year, final goods and services are produced for sale so they are consumed. However, not all of these goods are consumed with the rest being consumed in another period. These goods that were not sold for consumption will then fall under Business Inventories.

When accounting for them in GDP, only the increase in Inventory is added. This way the inventory is accounted for in the year that it was produced in. Specifically speaking, Inventories fall under the <em>Investment</em> component of GDP and is typically referred to as <em>Inventory Investment</em>.

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Suppose the nation of Canada forbids international trade. In Canada, you can obtain a hockey stick by trading 5 baseball bats. I
Neporo4naja [7]

Answer:

3. Canada has a comparative advantage, relative to other countries, in producing baseball bats.

Explanation:

Comparative advantage is the ability of the country to produce good or services for a lower opportunity costs for example the oil producing countries have comparative advantage in chemicals.

Options 1,2 and 4 are incorrect .

Absolute advantage is the ability of a country or region to produce greater quantity of units with the same no of inputs in the same time.

5 0
3 years ago
Will the right to the child help in the development of the children explain with example​
Nesterboy [21]

Answer: Yes, the rights of the child can help them in their development.

Explanation: Organizations such as UNICEF explain that children have a series of rights that are essential for them to have a healthy development and to become good adults. Children have the right to a family structure and to be cared for, since when they are young there are many things that they cannot do for themselves and they need others to achieve it. An example of this would be that children must be sent to school by their parents. Children have the right to an education.

4 0
3 years ago
Considering the needs of a global audience is essential to success in the hospitality and tourism industry?
ozzi

Answer:

True

Explanation:

In simple words, the hospitality and tourism industry refers to the activities related to accommodation, restaurant and tourism etc. In such industries the main focus of the companies is the comfort and joy of their clients. This becomes difficult to implement as every individual have different needs and circumstances. Thus, the planning of activities should be made in such a way that it suited the global audience.

8 0
3 years ago
As part of the initial investment, a partner contributes equipment that had originally cost $100,000 and on which accumulated de
deff fn [24]

Answer:

Explanation:

$100,000 debit to the Equipment asset account because you are recording the actual original cost of the equipment (as is required by the Cost Principle of Depreciation). You should also credit the Accumulated Depreciation: Equipment account for $75,000 to show that the equipment has already depreciated for this amount.

3 0
4 years ago
Means that sellers can restrict people who do not pay for the product from obtaining its benefits
RideAnS [48]
In macroeconomics, excludability means that sellers can restrict people who do not pay for the product from obtaining its benefits. 

Such as, if you want to see a concert at a venue, but you did not purchase tickets if the concert is held inside you are not able to go in and watch the show. You must pay for the good or service you are wanting in order to have access to it. 
6 0
3 years ago
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