Suppose a small economy produces only the three goods listed in the table below, the value of GDP in this economy is $27,000.
What is GDP?GDP means Gross Domestic Product.
The GDP shows the monetary value of all finished goods and services produced in a country during a specific period.
Data and Calculations:GDP Table
Product Price Quantity Total Value
Shovels $20 40 $800
Books 50 500 $25,000
Pizzas 10 120 $1,200
Total GDP = $27,000
Thus, suppose a small economy produces only the three goods listed in the table below, the value of GDP in this economy is $27,000.
Learn more about GDP at https://brainly.com/question/1383956
#SPJ12
The first step to improving your time management skills is to:
The first step to improving your time management skills is to prioritize.
What is time management skills?This is a skill needed in order to effectively manage our time and getting things done in an effective way within a short period of time.
The first step to improving your time management skills is to prioritize. Having a daily to do list is very important in managing time effectively. It helps us determine the most important things to do in order of their importance.
Learn more on time management here: https://brainly.com/question/24662469
#SPJ12
Which of the following is an example of trade barriers imposed by Japan? Multiple Choice U.S. basTo comprehend why a society thinks and behaves in a particular way, an observer should consider how the region's history and geography have influenced itsballs are not good enough for Japanese baseball teams. The unique nature of snow requires skis made in Japan. California rice must be mixed with Japanese rice. All of these choices are correct.
The correct option is E). All of these choices are correct.
What trade barriers were imposed by Japan?Along with the tariff barriers, Japan also have some non-tariff barriers that may impact commercial activity of foreign products into Japan.
Japan prohibited the imports of narcotics, firearms, explosives, and products that violate intellectual property laws.
Japan's tariff system offers lower and duty-free rates to those products which has been imported from developing countries.
Learn more about the trade barriers in Japan here:-
https://brainly.com/question/27863334
#SPJ1
more abundant leisure increases ______, but it ______ real gdp.
More abundant leisure increases Social Welfare, but it decreases real GDP.
What is GDP?GDP also known as the gross domestic product is the monetary measure of the market value of all products and services produced in a country within a particular period of time.
When a country increases its leisure, it increases the level of social welfare but at the same time decreases the value of the GDP of that country.
Learn more about GDP here:
https://brainly.com/question/1383956
#SPJ12
Answer:
social welfare; decreases
Explanation:
Expenses follow the same debit and credit rules as a.the drawing account b.liabilities c.revenues d.the capital account
Expenses follows the same rule of the debit and credit as that of the Drawing account.
What is Drawing Account?The Drawing account is the account in which the transactions of the money withdrawn from the business is recorded. The money is withdrawn by the owner of the business.
The golden rule of the accounting says that the debit the expenses and losses and credit the income and gains.
A debit to the drawing account and a credit to the cash account constitute the standard accounting entry for the drawings account (or whatever asset is being withdrawn).
It reflects the capital's deductibility from the overall equity of the company.
Learn more about Withdrawn money here:
https://brainly.com/question/18644775
#SPJ1
while entrepreneur is a type of _______ role, leader is a(n) ______ role.
While entrepreneur is a type of decisional role, leader is a(n) informational role.
Why is a entrepreneur is decisional and leader is informational?An enterprenuer is faced with making decisions at every point in time, it comes with the choice of good and services to produce and sell while a leader gives instructions on what and how to do a thing.
Therefore, Whhile entrepreneur is a type of decisional role, leader is an informational role.
Learn more on leader below
https://brainly.com/question/1232764
#SPJ1
While entrepreneur is a type of decisional role, leader is a(n) interpersonal role.
Who is an entrepreneur?An entrepreneur is an individual who is responsible for making decisions regarding the control, financing and organization of a business.
Who is a leader?A leader is an individual who is either elected or appointed to oversee the activities of a particular group of people at a particular time. He must be able to interact effectively with his followers in order to ensure unity and progress.
Learn more about entrepreneur:
https://brainly.com/question/353543
#SPJ11
During the current year, a company had sales on account of $264,000, cash sales of $108,000, and collections on account of $168,000. In addition, the company collected $2,900 from a customer whose account the company had written off as uncollectible in the prior year. As a result of these transactions, the current year's change in the accounts receivable balance is a Group of answer choices
As a result of these transactions, the current year's change in the accounts receivable balance is an increase of $96,000.
What is the accounts receivable balance?The accounts receivable balance is the difference between credit sales and cash collections on account, including other relevant adjustments.
The accounts receivable balance is one of the items of the current assets in the balance sheet.
Data and Calculations:Credit Sales = $264,000
Cash Sales = $108,000
Collections on account = $168,000
Change in accounts receivable balance = $96,000 ($264,000 - $168,000)
Thus, as a result of these transactions, the current year's change in the accounts receivable balance is an increase of $96,000.
Learn more about accounts receivable balances at https://brainly.com/question/24230946
#SPJ12
The purpose of __________ is to create real or perceived product differences. Group of answer choices niche marketing product differentiation product mixing target marketing
The purpose of "product differentiation" is to create real or perceived product differences.
What is product differentiation?Product differentiation improves brand loyalty, sales, and growth by differentiating what you sell from what your rivals provide.
The significance of product differentiation-
It creates a competitive advantage and make your product is superior to alternatives on the market.Effective product differentiation highlights the special advantages of your products or services.It helps to narrow down your audience depending on what they prefer and what you offer.You have a differentiated product that offers value to customers when you better match a product's advantages to what your target audience desires than your rivals.It helps to enhance brand loyalty and can achieve higher price points.To know more about the aspects of brand equity, here
https://brainly.com/question/15105000
#SPJ4
Define the 4 types of financial ratios. How will these give a prospective investor a complete picture of a company’s financial strength? [150 minimum word count]
The main types of financial ratios in accounting includes:
Profitability ratiosLiquidity ratiosSolvency ratiosValuation ratiosWhat is a financial ratios?These are ratio that helps in analyzes and comparison of relationships between financial statement accounts for identification of strengths and weaknesses of a firm.
The type of financial ratios:Profitability ratios: This ratio helps to assess the firm ability to generate earnings relative to its revenue.Liquidity ratios: This ratio help to assess the firm's ability to pay debt obligations and its margin of safety.Solvency ratios: This ratio help to assess the firm's ability to meet its long-term debt obligation.Valuation ratios: This ratio help to assess the firm's financial soundness in relation to its market value.
Read more about financial ratios
brainly.com/question/9091091
#SPJ1
True or false: In the United States, inflation reached double-digit rates in the 1970s and early 1980s but has since declined and recently, has been relatively mild.
This is True that In the United States, inflation reached double-digit rates in the 1970s and early 1980s but has since declined and recently, has been relatively mild.
What is inflation?A general increase in the cost of goods and services is referred to as inflation. Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.
When prices for goods and services increase rapidly, there is rapid inflation, which reduces the purchasing power of savings. Oil prices, currency speculators, rapacious businesspeople, and avaricious union leaders were held responsible for The Great Inflation.
Numerous businesses were destroyed and countless people were harmed by the Great Inflation and the recession that followed.
Cause for the decline in inflation:
Reduced government spending, Stock market declines,Consumer desire to save more money, Tighter monetary regulationsWhen the economy's output expands more quickly than the amount of available credit and money, falling prices can also occur spontaneously
To know more about Inflation refer to: https://brainly.com/question/15692461
#SPJ4.
Which of the following is not a business transaction? a.Erin purchased hedge trimmers for her lawn service agreeing to pay the supplier next month. b.Erin deposits $15,000 in a bank account in the name of Erin's Lawn Service. c.Erin provided services to customers earning fees of $600. d.Erin pays her monthly personal credit card bill.
(D) Erin pays her monthly personal credit card bill.
What is a business transaction?A business transaction is an economic event involving a third party that is documented in the accounting system of an organization. Such a transaction needs to have a monetary value. Purchasing insurance from an insurer is an illustration of a business transaction acquiring stock from a vendor.What is a credit card?A credit card is a payment card that is given to customers so they can pay a merchant for products and services based on the debt they have accumulated.Since Erin paying her credit card is her personal transaction.
Therefore, the answer will be (D) Erin pays her monthly personal credit card bill.
Know more about debt here:
https://brainly.com/question/25035804
#SPJ4
The Deepwater oil spill in the Gulf of Mexico in 2010 was made much worse because BP Oil did not have plans in place for surprises. Planning for unexpected events is called
Planning for unexpected events is called contingency planning.
What is contingency planning?A contingency plan is a strategy created to assist an organization in effectively responding to a large crisis, event, or condition that may or may not occur in the future.
Because it can be utilized as a fallback strategy in the event that desired outcomes are not achieved, a contingency plan is also known as a "Plan B" or backup plan. Business continuity (BC), disaster recovery (DR), and risk management all include contingency planning.
It all comes down to risk management, risk reduction, and preparation for quick disaster recovery.
Learn more about contingency planning here:
https://brainly.com/question/939242
#SPJ4
From an internal control standpoint, the asset most susceptible to improper diversion and use is:.
From an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.
What is cash?
Cash is the most liquid asset because it can easily be used in exchange unlike other assets.
Cash is classified under the Current Assets section of the balance sheet but is always presented first before debtors, inventory, and short-term investments.
Thus, from an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.
Consumers experience ______ marginal utility the more they consume of a particular good or service.
Answer:
less
Explanation:
The law of diminishing marginal utility states that, as consumption of a good or service increases, its marginal utility decreases.
Explain how the accounting for a fair value hedge differs for the hedged item and for the hedging item compared to the accounting for a cash flow hedg
A cash flow hedge is accounted for differently than a fair value hedge.
The key difference between a cash flow hedge and a fair value hedge is the hedged item. With a cash flow hedge, you’re hedging the changes in cash inflow and outflow from assets and liabilities, whereas fair value hedges help to mitigate your exposure to changes in the value of assets or liabilities.
A fair value hedge is used to mitigate risk created by fixed exposures such as fixed costs, prices, rates, or terms. Whereas a cash flow hedge is used to mitigate risk from variable exposures.
In the case of the Hedged Item:
a) Loss on the hedging item on the reporting date:
Debit the loss to Loss on the Hedged Item A/c. This will have an effect on the Profit & Loss A/c and reduce the profit of the company.
Credit the Hedged item. Since this is an asset, the value of the asset will go down, and this will affect the Financial Position i.e., Balance Sheet of the company.
b) Gain on the hedging item on the reporting date:
Debit the Hedged item. Since this is an asset, the value of the asset will go up, and this will affect the Financial Position i.e., Balance Sheet of the company.
Credit the gain to Gain on the Hedged Item A/c. This will have an effect on the Profit & Loss A/c and increase the profit of the company.
Learn more about Hedging on:
brainly.com/question/21600180
#SPJ4
Communication processes such as face-to-face conversations, telephone conversations, and meetings in which all communicators are present at the same time are referred to as __________ communication.
Synchronous communications correspond to the communication process where all communicators are present at the same time.
What are the benefits of synchronous communications?In this type of communication where all parties involved are present when the communication is established, such as a meeting or a phone call, there is a greater exchange of information, learning and instantaneous feedback.
Therefore, synchronous communication is positive for the work environment, as it allows for greater understanding and learning to carry out organizational processes.
Find out more about synchronous communication here:
https://brainly.com/question/14192008
#SPJ1
The single most common form of competition in the U.S. is perfect competition among firms with differentiated products. monopolistic competition among firms with differentiated products. oligopolistic competition in a certain market with similar products. perfect competition because it displays product and allocative efficiencies.
The single most common form of competition in the U.S. is A. perfect competition among firms with differentiated products.
What is Market Competition?
This refers to the different pricing systems that exist in a market system that allows people to outmaneuver their competition.
Hence, we can see that the United States has capitalism where profit is the main goal and the single most common form of competition in the U.S. is perfect competition among firms with differentiated products.
Read more about perfect competition here:
https://brainly.com/question/4190313
#SPJ1
In market economies, most decisions are made by ___, while in command economies, most economic decisions are made by ___.
In market economies, decisions are made by individuals whereas, in command economies, economic decisions are made by a central authority.
What is the Economy?The economy refers to the position of a country when sufficient production and consumption of goods and services by the manufacturers and customers. This reflects the sufficient flow of money.
Market economy refers to the economy when any business is owned by an individual. In this type of economy, all the directions are followed by business given by individuals only, excluding government involvement.
In a command economy, it is controlled by government officials, and all the decision-making is done by them. This central authority will control the allotment of raw materials as well as resources utilized in production.
Learn more about the economy, here:
brainly.com/question/2421251
#SPJ1
When a company finds a small but profitable market segment and designs products just for them, the company is engaged in:
When a company finds a small but profitable market segment and designs products just for them, the company is engaged in: Niche marketing.
What is niche marketing?
This is a term that is used to refer to the specialization in the sale and the development of a particular product to a market.
It is the focus that is put in a particular market segment. Hence the answer is niche marketing.
Read more on Niche marketing here:
https://brainly.com/question/5944471
#SPJ12
Physical units accounted for are 155000. Total conversion costs are $413370. There are 3800 units in ending inventory which are 50% complete as to conversion costs. How much is the conversion cost per unit
The conversion cost per unit of the inventory comes out to be $2.63.
What is a conversion cost?
A conversion cost is computed by adding the production overheads to the direct labor in the production process.
Given values:
Physical units: 155,000
Conversion cost: $413,370
Units in ending inventory: 1900 (3,800 X 50%)
Computation of conversion cost per unit:
[tex]\rm\ Conversion \rm\ cost \rm\ per \rm\ unit=\frac{\rm\ Conversion \rm\ cost}{\rm\ Physical \rm\ units + \rm\ Units \rm\ in \rm\ ending \rm\ inventory} \\\rm\ Conversion \rm\ cost \rm\ per \rm\ unit=\frac{\$413,370}{\$155,000 + \$1,900} \\\rm\ Conversion \rm\ cost \rm\ per \rm\ unit=\$2.63[/tex]
Therefore, $2.63 is the conversion cost per unit on the inventory.
Learn more about the conversion cost in the related link:
https://brainly.com/question/17061981
#SPJ1
__________ implies that pressure for price increases reaches across _______________markets, not just one.
Answer:
"Inflation" implies that pressure for price increases reaches across "most" markets, not just one.
"Inflation" implies that pressure for price increases reaches across "most" markets, not just one.
What is the market?
Markets are places where individuals, businesses, and industries transact, whether it be for the purpose of purchasing, selling, or providing services. They use it in order to make money.
The term "inflation" describes an economy's overall rise in the market value of both goods as well as services. Money units may purchase fewer merchandise and services as the market's overall level of prices rises, hence inflation is associated with a decline in the value of money's purchase power.
The rate at which prices increase over a particular period of timeframe is known as inflation. Inflation is often measured in broad terms, including the general increases in inflation and the rise in a nation's living expenses.
Learn more about market, here:
https://brainly.com/question/13414268
#SPJ2s
Trust fund overages or shortages are serious violations of the law, which can result in loss of license, even if the discrepancy is caught and corrected. Which statement is correct regarding trust fund liability?
The statement that is correct regarding trust fund liability is A trust fund overage occurs if the trust account balance is greater than the total liability of the account.
What is violations of the law?violations of the law of the act of going against the law that guides some certain discipline which was seen in the Trust fund overages or shortages.
Trust fund shortages are usually as a result of the disbursements to a beneficiary in excess of funds that is been gotten from account of that beneficiary.
However, it can as well be as a result of trust account balance is greater than the total liability of the account.
Learn more about Trust fund at:https://brainly.com/question/14671297
#SPJ1
Personal selling is used most commonly in the B2B market as well as in the B2C market for Group of answer choices low-price products. mass-market products. raw materials. personal services. high-end products.
Personal selling is used most commonly in the B2B market as well as in the B2C market for high-end products.
What is personal selling?This is when a person meets with his or her potential buyers physically with a view to sell her products.
One of the benefit of personal selling is that it allows personalized communication between your business and potential customers.
Learn more about personal selling here: https://brainly.com/question/7304387
#SPJ1
The complexity and challenges associated with planning for and executing an operation include.
Answer:
One of the two equal sides of an isosceles triangle is 5.4cm . If the perimeter of the triangle is 15.4cm find the length of remaining side of the triangle.
A healthy husband and wife, ages 45 and 40 respectively, wish to start funding for retirement at age 65. What is the most appropriate time horizon for the portfolio
The most appropriate time horizon for the portfolio to start funding for retirement at age 65 is 35 years
What is time horizon?Investments are held during time spans until they are required. The time horizon varies depending on how long or how short the investment aim is. The moment you start investing will also affect your time horizon. The power of compounding must operate for a longer period of time the longer the time horizon.It is reasonable to anticipate that these clients, who are 40 and 45 years old, will live for another 30 to 40 years.
Therefore, their investment portfolio should have the time horizon of 35 years.
To know more about the compounding and discounting, here
https://brainly.com/question/20595589
#SPJ4
If there is unemployment in an economy, then the Group of answer choices economy is operating at an unattainable point. production possibilities frontier will shift inwards. economy is producing at a point inside the production possibilities frontier. production possibilities frontier will shift outwards. production possibilities frontier must be bowed inward.
Answer:
yes Because production possibilities frontier helps in thing like this
Which of the following is not a characteristic of a bottom-up budget environment? Executive management creates the budget. At each higher level of management, the budget is reviewed and may be altered. The budget approach may also be referred to as participative budgeting. All of these answer choices are characteristics of a bottom-up budget environment.
The following is not a characteristic of a bottom-up budget environment is:
(A) Executive management creates the budget.
Bottom up budgeting is a shape of monetary budgeting wherein a agency lets in every branch to set their very own price range. Each branch creates a listing of prices and fee projections, that's then submitted for evaluation from senior management. Once agreed, those separate budgets are brought collectively to shape the agency’s common price range.
It is likewise called participative budgeting due to the fact branch managers are given a position in placing their very own budgets. Bottom-up price range techniques permit for extra accuracy and incentivize personnel to play through the budgeting rules.
As discussed, backside-up budgeting is based on every branch supervisor taking possession in their very own spending. But to stay in control, senior management will use budgeting software program and era to supervise development and limits. Ownership and decision-making lives with price range managers, however finance groups have budgetary control.
Currently, simplest 40% of groups appoint a cloud-primarily based totally device. For an multiplied danger of backside up price range achievement throughout all regions of an organization, a software program device is notably recommended.
Thus, we will say that the right choice is A.
Learn more about Bottom Up Budgeting on:
brainly.com/question/15969231
#SPJ4
How to make poultry farm?
Answer:
How to make a poultry farmExplanation:
Steps:Choose the type of poultry bird to rearSelect a suitable farm location or siteProvide good housing/shelter for the birdsFeeding and medication of the poultry birdsMarketing and sales of the poultry birds Necessary poultry equipmentsFeederWater potLaying nestsHeater/incubatorFencingEgg handling nestsWhich of the baldrige criteria is given the most weight in selecting winners?
Results are heavily weighted toward the Baldrige criterion. This is further explained below.
What are Baldrige's criteria?Generally, "Integrated management framework" refers to a set of tools used to analyze and improve business operations.
In conclusion, Sampling acceptance rates for winners are heavily weighted toward those that meet the Baldrige standards.
Read more about Baldrige's criteria
https://brainly.com/question/21801135
#SPJ12
which of the following is the best example of a law
A You can spend more money than you earn
B teachers must retire at age 65
C you should not make promises you can't keep
D you may not ask an interviewee if he or she is married or has children
You may not ask an interviewee if he or she is married or has children is the best example of a law.
Thus, the correct option is D.
What is a law?The exact meaning of law is up for debate, but it is generally understood to be a set of regulations that are made and enforced by social or governmental institutions to control behavior. It has been called both a science and the practice of justice in diverse contexts.
A law society is an organization of attorneys having the authority to regulate the education, certification, and behaviour of attorneys. Where there is a distinction between barristers and solicitors, the law societies govern solicitors and a separate bar council regulates barristers.
Federal laws are measures that have been approved by both houses of Congress, have the president's signature, have overridden the president's veto, or have otherwise been given the go-ahead to become law. In the United States Code, individual laws, sometimes known as acts, are organized by subject.
The legislation has several objectives. Establishing norms, upholding order, settling conflicts, and defending liberties and rights are the four basic ones.
Learn more about law, here
https://brainly.com/question/28276455
#SPJ2
which of the following statements are true (picture attached)
If the cardholder makes the payment of $523.20 on time, which is by the due date, she will not have to pay any interest to the credit card company.
What is a due date?Due date is the date on which the payment or a receipt becomes due to be paid as per the agreements made by both the parties to a transaction.
In case of a credit card, no interest is charged on the limit used, if the repayment is done on or before the due date of repayment of such limit by the cardholder.
Hence, option D holds true regarding the due date.
Learn more about due date here:
https://brainly.com/question/1391369
#SPJ1
