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bonufazy [111]
2 years ago
3

In general, if a consumer good is produced domestically and consumed domestically, an increase in its price will have which of t

he following effects? a. The consumer price index will increase relatively more than will the GDP deflator. b. The consumer price index and the GDP deflator will increase by the same amount. c. The consumer price index will increase relatively less than will the GDP deflator. d. One cannot generalize about the increase in the consumer price index relative to the increase in the GDP deflator.
Business
1 answer:
mr_godi [17]2 years ago
6 0

Answer:

a. The consumer price index will increase relatively more than will the GDP deflator.

Explanation:

Generally, using economic indicators, if a consumer good is produced domestically (using local resources or raw materials) and consumed domestically (no importation of such products by the country), an increase in its price will cause the consumer price index to increase relatively more than the GDP deflator.

The consumer price index is a measure used by economists to analyze and examine the weighted aggregate of prices of a basket of goods and services paid for by consumers, these are medical, food, and transportation.

Additionally, GDP deflator, also referred to as the implicit price deflator, is a measure of the level of prices of all domestically produced goods and services in an economy.

Simply stated, Gross Domestic Products (GDP) deflator, measures the effect of inflation on the gross domestic product of a country within a specified period of time (mainly a year).

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In 1954, the state governor of Mississippi publicly rejected the court-ordered desegregation of the University of Mississippi on
Bumek [7]

Answer:

Critical Juncture

Explanation:

A critical juncture refers to the notion that at a certain point the prevailing institutional arrangements. put in place at a certain point in time become entrenched because a change in the arrangement has a potential to alter the course of the future.

5 0
2 years ago
Which 3 of these areas does the Client Needs Assessment tool focus on to help gather the information needed to select the right
Leto [7]

The 3 areas the Client Needs Assessment tool focuses on to help gather the information needed to select the right QuickBooks Online subscription for a client include <u>Who is the client?</u>

The other areas the tool focuses on to help gather information needed include the following:

  • What service does the Client need?
  • When does the client need their work completed?
  • Also, the Client Needs Assessment tool focuses on the area of "How will the client work be completed?"

Hence, in this case, it is concluded that the <u>Client Needs Assessment</u> tool focuses on the areas of "what, when, who, and how" to gather the right needed to select the right QuickBooks Online subscription for a client.

Learn more here: brainly.com/question/13136031

8 0
1 year ago
Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.45 per pound. 15,700
Andru [333]

Answer:

A) Price       7,080     U

B) Quantity 4,630.5  U

C) Total        11.710,5‬ U

Explanation:

DIRECT MATERIALS VARIANCES

(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance

std cost  $3.45

actual cost  $3.65

quantity 35,400

difference  $(0.20)

(0.2) \times 35,400 = DM \: price \: variance

price variance  $(7,080.00)

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance

std quantity 36110.00

actual quantity 35400.00

std cost  $3.45

difference 710.00

(710) \times 3.45 = DM \: quantity \: variance

quantity variance  $2,449.50

Total Variance: 2,449.5 - 7,080 = -4.630,5‬

8 0
2 years ago
A company needs to locate three departments (X, Y, and Z) in the three areas (I, II, and III) of a new facility. They want to mi
sp2606 [1]

Answer:

The correct answer is option (A) $2,600

Explanation:

Given data;

The data given can be tabulated below for easy understanding

Pairs                        Flow         Distance          Flow distance

X-y                              30            20                     600

Y-Z                            280             10                     2800

Z-X                            180             10                      1800

Total flow = 600 +2800 + 1800 = 5200

To calculate the total weekly cost, we use the formula;

Total weekly  cost is =  Total flow * Cost of per load

                                    = 5200 *0.5

                                     $2,600

5 0
2 years ago
Most firms in the apparel and footwear industries choose to outsource production to countries where labor is abundant​ (primaril
RideAnS [48]

Answer: Outsource production to other countries where labour is abundant because labour in those countries are cheaper than in their home countries.in order to reduce the cost of Production and maximize profit, on the other hand a firm may use capital intensive production technique in order to improve efficiency in production and cut cost which will also translate to profit maximization.

Explanation:

Production is the creation of goods and services in order to satisfy human wants.production is not complete untill the goods is finally in the hands of consumers. There are four factors of production which are land, Labour, capital and entrepreneurs.

The Labour is the productive power of the individual. It refers to the actual effort both physical and mental made by human being in production. The Labour intensive industry is a kind of industry where extensive use of human Labour in production is more than the use of machine in production. The capital as one of the factors of production, is the wealth which has been set aside for the production of further wealth. This is because capital plays an important role in increasing production. Capital such as tools,machines,equipment, help in increasing production. The capital intensive industry is therefore, the extensive use of machines in production than human effort in the production of goods. The replacement of machines with human Labour enhances efficiency because of the difficult work which can easily be performed with the use of machine.It also aid in the mass production of goods because machines increases output per man. Therefore we can say that production function can be written as x= f ( K,L) where K is capital and L is labour

The product output depends on the techniques of production used in the production of such goods. Given the firm's capital outlay for inputs, the more efficient the technique used the greater will be the firm's output, and the less efficient the technique used the smaller will be its output. The product output also depends on the quantity and quality of resources used in production, a firm can increase or decrease output by increasing or decreasing the quantity of all resources or inputs used. The firm may choose to outsource production to countries where Labour is abundant such as the south east Asia because the Labour is abundant and cheap. They do this in order to reduce their cost of Production and at the end of the day maximize profit. While the firm which use capital intensive production technique use it in order to improve efficiency of their production and also to cut cost of Production which will also increase profit .

6 0
2 years ago
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