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2 years ago

1.Why is GDP / Capita a more accurate way of determining the well-being of a people?

Business

1 answer:

Vesnalui [34]2 years ago

5 0

Answer:

1. GDP is an indicator of a society's standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology. 2. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars. 3. Nominal GDP is an assessment of economic production in an economy that includes current prices in its calculation. 4. The four stages of the cycle are expansion, peak, contraction, and trough. Factors such as GDP, interest rates, total employment, and consumer spending, can help determine the current stage of the economic cycle. Insight into economic cycles can be very useful for businesses and investors.

Explanation:

I hope this can help :)

You might be interested in

Name one form of collusion

Vera_Pavlovna [14]

Answer:

price fixing

Explanation:

The collusion occurs when firms agree to collaborate in a way that disrupt markets such as fixing prices above the actual price to alter the equilibrium of the market

3 0

3 years ago

Read 2 more answers

Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $26.50 per hour. Du

g100num [7]

Answer:

$137,800

Explanation:

A flexible budget uses the standard hour and costs adjusted to Actual level of output

thus

Flexible budget amount for direct labor = 2 x 2,600 units x $26.50 = $137,800

6 0

3 years ago

Which formula is correct formatting for a nested function?

erastova [34]

Answer:

=IF(AND(B2>3000,02>2000),"Bonus","No Bonus")

Explanation:

A nested If statement is used when 1 or more conditions are to be tested. The result of the nested function depends based on the true value of the function.

i.e. If the nested statement is true, certain operations are to be done otherwise, do something else. In other words, the IF function allows you to make a logical comparison between a value and what you expect by testing for a condition and returning a result if True or False.

The syntax of a nested function goes thus

IF( condition1, value_if_true1, IF( condition2, value_if_true2, value_if_false2 ))

This would be equivalent to the following in Excel

= IF(condition1,"value_if_true",value_if_false)

Base on the above explanation, only option B is right.

And what it does is that

it checks if cell B2 is greater than 3000 AND cell 02 is greater than 2000.

If both statement are true, "Bonus" will be the output result

If one ore both statement are false, "No Bonus" will be the output result

7 0

3 years ago

What does it mean to have an "absolute advantage” in production?

Shalnov [3]

Answer:

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources

(i.e : India has an absolute advantage in operating call centers compared to the Philippines because of its low cost of labor and abundant labor force.)

Explanation:

5 0

3 years ago

What is the key idea in the aggregate expenditure macroeconomic model? The key idea in the aggregate expenditure model is that

guajiro [1.7K]

Answer:

A) in any particular year, the level of GDP is determined mainly by the level of aggregate expenditure.

Explanation:

The formula for calculating the aggregate expenditure (AE) of an economy is the same used to calculate the gross domestic product:

Aggregate expenditures = consumption + investment + government + net exports (exports - imports)

The main difference between the GDP ans AE is that AE measures the planned consumption, the planned investment, the planned government expenses and the planned net exports.

he equation is: AE = C + I + G + NX. The aggregate expenditure determines the total amount that firms and households plan to spend on goods and services at each level of income.

6 0

3 years ago