Answer:
B) the firm's output contributes to GDP only to the extent that there is value-added.
Explanation:
- When a form produces the output with the capital and the labor and there it contributes the GDP of the nation as the forms in a domestic setup and the external output produces the GDP to the extent that there are added values.
- Thus the firm's outputs provide a valid added type services and associated with the cost of the capital and cost of the labor and marginal rate of the technical substitutes.
Answer:
The correct answer is option C.
Explanation:
Dollar bills in the modern economy will be used as money because they serve as a medium of exchange, store of value, and unit of account. They have no independent value as a commodity apart from these uses.
This makes the exchange function of money easier. People will not hoard dollar bills for other purposes as it has no intrinsic value on its own. It is just a piece of paper.
Answer:
The correct option is C,overproduce, external cost
Explanation:
Externalities are benefits or disadvantages caused to third parties from the production of a product or rendering of a service.
Externalities can result from positive or negative production as well as positive or negative consumption.
Negative externality refers to harm not benefit, which stems from overproduction because the higher the level of production or consumption the higher the negative impact.
A typical example is the harmful substance released into the atmosphere from burning fossil fuels which impacts the life of peoplr in a negative way.The external cost in this instance is the cost medicare required to take of affected persons that is not included in the price of the good sold
Medical
Engineering
Political field
Answer:
Explanation:
The journal entries are shown below:
On May 2:
Purchase A/c Dr $4,200
To Accounts Payable A/c $4,200
(Being purchase is made on credit)
On May 3:
Freight Inward A.c Dr $290
To Cash A/c $290
(Being freight expenses are paid in cash)
On May 5:
Accounts payable A/c Dr $350
To Purchase return $350
(Being purchase return is recorded)
On May 10:
Accounts payable A/c Dr $3,850
To Cash A/c $3,773
To Discount $77
(Being full amount is paid and the remaining balance is credited to the cash account)
The discount is computed below:
= (Purchase - purchase return) × discount rate
= ($4,200 - $350) × 2%
= $3,850 × 2%
= $77
On May 30:
Accounts receivable A/c Dr $4,900
To Sales revenue $4,900
(Being sales is recorded)