Answer:
B) GDP would definitely increase because GDP excludes leisure.
Explanation:
The gross domestic product GDP includes the market value of all the final and legal goods and services produced within a country during one year.
Leisure time by itself is not included in the GDP, recreational and travel activities are, e.g. hotel services, restaurants, camping equipment, etc.
Answer:
balance sheet
Explanation:
A balance sheet is one of the most essential financial statements that helps accountants and managers grasp the financial structure of the company, at a <u>certain point of time</u>.
The balance sheet clearly states the company's assets, liabilities and stockholders' equity, rigorously adhering to the basic accounting equation:
Assets = Stockholder's Equity + Liabilities
The equilibrium of the equation above is non-negotiable; it relies on common sense too. Every company owns things - <em>assets</em>, which were obtained with the aid of a e.g. bank loan - <em>liability, </em>or investor money - <em>stockholders' equity</em>.
These three groups can be further itemized into smaller, concrete accounts. Also, the <em>liquidity principle</em> is applicable in terms of ordering the items in an increasing liquidity order.
The time context is also an important distinction of this specific financial statement. While statements such as the P&L statement refer to <em>a specific time interval</em> (year, quarter...), the balance sheet reflects <em>a specific point of time. </em>
Answer:
$120
<u>Explanation</u>:
Yes Person B must be willing to pay an amount that would cover the marginal cost of the product.
Remember, the marginal cost is the cost per unit of a product not the sales cost. Therefore, the total value paid should cover the marginal cost.
