Answer:
GDP is not affected by Pete's production of the jewelry box.
Explanation:
Pete is a woodworker and works 20 hours to prepare a jewelry box to gift his wife. If Pete prepares this jewelry box to sell and earn revenue, this will be considered in GDP but in this case Pete prepares a jewelry box to give his wife as his wife's birthday gift.
All types of gifts received or given in kind are not included in Gross Domestic Production.
Answer:
where is the stuff its just the question
Explanation:
<span>Growth in the economy shifts the PPC left. is the answer.
i am 90% right
</span>
Answer:
E. I, II and III.
Explanation:
Real exchange rate measure the price of foreign goods in comparison to the price of domestic goods. Basically, it can be used to compare the relative value of two baskets of goods in different countries; in this case, it is between Kenya and United States. If it becomes cheaper to buy Kenyan goods than in the U.S , the buyer will have get more for their buck. This means that the value of Kenya shillings has decreased relative to USD. The price of the same basket will be higher in the U.S and lower in Kenya ,making all choices correct.
Answer:
C = 1.75Q + 4,990
variable 1.75
fixed component 4,990
Explanation:
High-Low method:
we subtract the highest level of activity with the lowest one:
![\left[\begin{array}{ccc}High&44,360&82,620\\Low&19,962&39,924\\Difference&24,398&42,696\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7DHigh%2644%2C360%2682%2C620%5C%5CLow%2619%2C962%2639%2C924%5C%5CDifference%2624%2C398%2642%2C696%5C%5C%5Cend%7Barray%7D%5Cright%5D)
24,398 units generates 42,696 cost
with this information we can solve for variable cost.
42,696 / 24,398 = 1.75
Now we calcualte the fixed cost:
TC = variable x Q + fixed cost
82,620 = 1.75 (44,360) + fixed cost
82,620 - 77630 = 4990
the formula will be:
C = 1.75Q + 4,990
