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vaieri [72.5K]
2 years ago
6

In macroland potential gdp equals $20 billion and real gdp equals $19.2 billion. macroland has a(n) ______ gap equal to ______ p

ercent of potential gdp.
Business
1 answer:
Jet001 [13]2 years ago
6 0
Potential GDP = $20 
Real GDP =$19.2  
so an output gap is measured relative to potential output and it is calculated according to the formula [( X - Y ) Ă· Y] Ă—100. In this case, the output gap is [($10 billion - $8 billion) Ă· $8 billion] Ă—100 = 25%.
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The Mass Rapid Transit (MRT) System in Hong Kong has been running significant losses. Transport Ministry officials have argued o
Aleonysh [2.5K]

Answer:

A) -0.55

B) The  negativity in the estimated elasticity suggests that for every 1% increase in the price of transport there will be a corresponding 0.55% decrease in  the number of Commuters

Explanation:

Given data:

current fare (P0) = $4

hiked fare (P1)  = $6

change in fare = $2

number of rides before increase ( Q0 ) = 10000

number of rides after increase ( Q1 ) = 8000

change in rides = 2000

A) The estimated elasticity of demand for MRT rides using the midpoint /ARC method

Mid point method = [ ( Q1 - Q0 ) / ( Q1 + Q0 ) ] / [ (P1 - P0 ) / (P1 + P0 ) ]

                              = [ - 2000 / 18000 ]  / [ 2 / 10 ]

                              = - 1000 / 1800 =  - 5 / 9 ( estimated elasticity )

= - 0.55

B) The  negativity in the estimated elasticity suggests that for every 1% increase in the price of transport there will be a corresponding 0.55% decrease in Commuters

4 0
2 years ago
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Stan
Lady bird [3.3K]

Answer:

$10,400 Favorable

Explanation:

The computation of labor efficiency variance for June is shown below:-

For computing the labor efficiency variance for June first we need to find out the standard hours

Standard hours = 0.5 hours per unit × 3,100 units

= 1,550 hours

Now, we will put it into formula

Labor efficiency variance = (Standard hours - Actual hours) × Standard rate

= (1,550 - 510) × $10

= $10,400 Favorable

Therefore for computing the labor efficiency variance for June we simply applied the above formula.

7 0
2 years ago
Isn’t "corporate entrepreneurship" an oxymoron? Do the characteristics of an established organization, such as its routines and
pashok25 [27]

Answer:

Isn’t "corporate entrepreneurship" an oxymoron?

I guess that most people would believe that corporations and entrepreneurs and completely opposite, and for the most part they are right. But some corporations actually do have entrepreneurial spirit or at least try to. E.g. 3M is famous for allowing their employees some creative time so that they can come up with new ideas. Google is another example of a large corporation that allows for creative time while at work.

Do the characteristics of an established organization, such as its routines and structure, increase efficiency but at the same time kill any entrepreneurial spirit?

Routines, schedules and corporate structure not only kill, but they rather massacre and exterminate entrepreneurial spirit and creativity. One great example of how corporations do not allow people to think or act differently can be seen in the movie about Ford competing in Le Mans.

Is there any way that a company can have the best of both worlds?

I guess that it is difficult, but not impossible for a company to have corporate entrepreneurship. The problem is that corporations will probably believe that it is a waste of money to pay for their employees to do nothing and just wander around thinking about new ideas. Creativity has a cost and not everyone is willing to pay for it.

8 0
2 years ago
Squirrel Co. operates in a lean manufacturing environment. For June production, Squirrel purchased 6,000 units of raw materials
valina [46]

Answer:

At the time of purchase of raw material inventory,

Raw material inventory account will debit and accounts payable account will credit.

Therefore, the Journal entry for this transaction is as follows:

Raw Materials Inventory Account    Dr. $36,000

To Accounts Payable                                           $36,000

(To record the purchase of raw material on account)

Workings:

Raw material Inventory = Units of raw material purchased × Price per unit

                                       = 6,000 × $6

                                       = $36,000

3 0
2 years ago
On June 1, Greendale Corp. issued $700,000, five-year bonds at 8%, with interest payable annually on May 31. The bonds sold for
elena-14-01-66 [18.8K]

Answer:

$23,709

Explanation:

Data provided in the question:

Amount of bond issued = $700,000

Duration = 5 years

Interest rate = 8%

Selling amount of bond = $728,700

Market rate of interest = 7%

Now,

Interest paid = Amount of bond issued × Interest rate

= $700,000 × 0.08

= $56,000

Interest expense = Amount of bond sold × Market Interest rate

= $728,700 × 0.07

= $51,009

unamortized premium = Selling amount of bond -  Amount of bond issued

= $728,700 - $700,000

= $28,700

Amortized amount = Interest paid - Interest expense

= $56,000 - $50,009

= $4,991

Balance  of the premiums on bonds payable account immediately following the first interest payment

= unamortized premium - Amortized amount

= $28,700 - $4,991

= $23,709

5 0
2 years ago
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