Answer:
limited agency
Explanation:
According to the level of authority delegated to the agent, the usual real estate agency is a(n) limited agency.
in limited agency the one person called agent perform legal activities like sign contract on behalf of other person called principal
Final answer:
According to the level of authority delegated to the agent, the usual real estate agency is a(n) general agency.
Explanation:
According to the level of authority delegated to the agent, the usual real estate agency is a general agency. In a general agency, agents have the authority to perform a range of acts necessary to manage a certain business of the principal.
Real estate agents often operate under a mix of salary and commission, meaning they are compensated for their services through a fixed salary and a variable component based on the sales they facilitate. This structure aligns with the agents' duties to act in the best interests of their principals, whether that involves advocating for the property's sale, negotiating prices, or finalizing contracts on behalf of the principal.
Megan Cardova, who works as a sales executive at Orbit Bank, has been failing to meet her sales targets for the last 10 months. Recently, she had a face-to-face discussion with her manager where she said that the unrealistic targets were the reason for her underperformance. The manager, however, noticed that all the other team members were achieving their targets and sometimes were even achieving more than the set numbers. Which of the following is Cardova's behavior most likely to be characterized by according to the attribution theory?
A) low distinctiveness
B) high rigidity
C) high traceability
D) low consensus
E) low consistency
Answer:
(d) Low consensus
Explanation:
When there's an consensus, everybody concurs on something.Whenever there's difference, there's no consensus.
Consensus implies everybody is in agreement.
At the point when you're discussing every one of the individuals on the planet, it's elusive an accord on anything. There are simply such a large number of conclusions.
One reason a long-tenured top-level manager may hesitate to conclude the firm's structure is a problem is that doing so: a. suggests that the firm's previous choices were not the best ones. b. will only lead to inefficiencies. c. indicates to competitors that the firm is vulnerable to a hostile takeover. d. requires that the firm undertake a multi-year restructuring period that will delay retirement.
Answer: suggests that the firm's previous choices were not the best ones.
Explanation: For a long-tenured top-level manager to make such proclamation, shows the inefficiencies of the firm which he is a part of. He obviously has been with the firm for a very long time and making that proclamation will also be a dent in his image as a manager.
The large, heterogeneous market from which specific submarkets (market segments) are drawn is called the aggregate market.
True or False?
Answer:
False
Explanation:
The large heterogeneous market is a market structure where diverse commodities and services are available to the customers. Overall, large heterogeneous markets are known as 'Mass markets' or ' Total product market'. This market satisfies customer needs due to mass production of distinctive goods. In the large heterogeneous market, customers have different perspectives, wants, choices and nature etc.
Regarding competitive strategies, companies seek efficient manufacturing and productive employees to achieve ___________.
A. low-cost leadership.
B. focused differentiation.
C. global operations.
D. differentiation.
Answer:
D. differentiation.
Explanation:
Option A - Low-cost leadership refers to the strategy in which the customers are getting the products at a low cost. Companies seek to achieve cost leadership, but with efficient manufacturing and productive employees cannot help them to achieve that.
Options B and C - With local employees, it is challenging to achieve global operation, and focused differentiation is the selling of unique products to the customers. So, those are wrong answers.
Option D - With the help of differentiation strategy, companies seek effective manufacturing and productive employees to attract customers to take their products from the thousands of products in the market. Therefore, it is the correct answer.
A lender offers an investor a maximum 70% LTV loan on the appraised value of a property. If the investor pays $230,000 for the property, and this is 15% more than the appraised value, how much will the investor have to pay as a down payment?
Answer:
the correct answer is
First, the sale price is 115% of the appraised value, so the appraised value is $230,000 / 115%, or $200,000. The lender will lend $140,000 (70% of appraised value), so the investor will have to come up with $90,000 ($230,000 - $140,000).
good luck
Final answer:
The investor will have to pay a down payment of $90,000, calculated by finding the appraised value ($200,000) and subtracting 70% of this value ($140,000) from the purchase price ($230,000).
Explanation:
To calculate how much the investor will have to pay as a down payment, we first need to determine the actual appraised value of the property. Since $230,000 is 15% more than the appraised value, we can find the appraised value by dividing $230,000 by 1.15:
Appraised Value = $230,000 / 1.15 = $200,000
Next, we need to calculate the maximum loan amount the lender will offer, which is 70% of the appraised value (the Loan-to-Value ratio, or LTV):
Maximum Loan Amount = 70% of Appraised Value = 0.70 * $200,000 = $140,000
Since the maximum loan amount is $140,000 and the investor pays $230,000 for the property, the down payment would be the difference:
Down Payment = Purchase Price - Maximum Loan Amount = $230,000 - $140,000 = $90,000
Thus, the investor will need to pay $90,000 as a down payment.
The time value of money suggests that $1 in one year from now is worth less than $1 today.True / False.
Answer:
False, we conclude that $1 in one year from now is worth more than that of today.
Explanation:
The time value of money (TVM) is concept that suggests money available at present time is worth more than identical sum in future due to potential earning capacity.
This core principle in finance holds that the provided money can earn interest , and any amount of money is worth more the sooner it is received.
Also future money is not affected by inflation, only present money is.
Hence we conclude that $1 in one year from now is worth more than that of today.
The claim that $1 in one year from now is worth less than $1 today is true due to the Time Value of Money (TVM) principle, which explains the earning capacity of money.
Explanation:The statement is True. This concept is explained through the Time Value of Money (TVM) principle in finance and economics, which states that money available today is worth more than an identical amount in the future. This is due to the potential earning capacity of money, which can earn interest or yield returns on investment. If you have a dollar now, you can invest it to earn more money in the future. So essentially, $1 today is worth more than $1 a year from now.
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Marianne's Chocolates sell well in the U.S. at a price of $24 per pound, and she has overproduced one kind of chocolate bar. Marianne has decided to see if she can sell them in Mexico, so she sets a price that is just over her cost. She figures if she makes even a little money, it would be worth it. Marianne is using ________ pricing.
Answer: Variable cost pricing
Explanation:
Marianne wants to sell in Mexico by setting the selling price in such a way that she adds the total variable cost to the markup. This way she would meet her cost and gain some level of profit.
Marianne is using cost-plus pricing. This strategy involves setting the selling price just above the cost of production to ensure costs are covered and a profit is made. It is particularly useful when there is an overproduction of a product.
Explanation:Marianne's strategy of setting a selling price just above her cost to make a little profit is referred to as cost-plus pricing. Essentially, she has calculated her costs of production and then added a small margin for profit. This approach ensures she covers all her costs and makes a modest profit.
The method of cost-plus pricing is a common strategy in situations where businesses have large quantities of a product, like Marianne's overproduced chocolate bar. However, one should also consider market dynamics and competitive pricing to ensure their product is priced competitively. In manufacturing industries like the chocolate manufacturing, selling the overproduced goods at a lower price can be a better strategy than waiting for the product to sell at a higher price.
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IKEA advertises throughout the year, but significantly increases its advertising during the back-to-school time frame, thus implementing a ________ advertising schedule.
Answer:
Pulsing
Explanation:
Pulsing is the combination of flighting and persistent booking by utilizing a low promoting level lasting through the year and substantial publicizing during top selling periods.
Product classes that are sold all year yet experience a flood in deals at irregular periods are great possibility for beating.
Below are transactions for Lobos, Inc., during the month of December. Calculate the amount of revenue to recognize in December.
A. Receive $1,200 cash from customers for services to be provided next month.
B. Perform $900 of services during the month and bill customers.
C. Customers are expected to pay next month.
D. Perform $2,300 of services during the month and receive full cash payment from customers at the time of service.
Answer:
$ 3,200
Explanation:
As per the accrual principle, income and expenses are recognized when they are incurred, regardless of whether payment has been made or received. For example, expenses are recognized when a product is bought, or service utilized even if payment has not been made.
For Lobos Inc., income for December will be
$ 900 of services to customers and payment expected next month
$ 2300 services performed and paid in December
The $1200 payment for next month is not an income for December. The services have not been performed; hence income cannot be recognized.
Total income will be $900 + $2300= $ 3,200
Which of the following is true of currently attainable standards? a.Currently attainable standards can be achieved under efficient operating conditions. b.Currently attainable standards demand maximum sales price. c.Currently attainable standards do not allow for normal breakdowns, interruptions, and less than perfect skill. d.Currently attainable standards demand maximum efficiency.
Answer: a).
Currently attainable standards can be achieved under efficient operating conditions.
Explanation: currently attainable standards are standards which have been found to be achievable considering the current prevailing circumstances,this standards re usually set up for use in the short term it is not expected be achievable during the long term.
Currently achievable standards are always difficult to achieve but if resources are efficiently managed/ used it will be achieved. Currently achievable standards are usually set to evaluate performance especially in cost,time and materials management.
Final answer:
The true statement about currently attainable standards is that they can be reached under efficient operating conditions. They incorporate realistic expectations of operational variables and aim for productive efficiency and allocative efficiency in a perfectly competitive market.
Explanation:
The question asks which statement is true regarding currently attainable standards. The correct answer is: a. Currently attainable standards can be achieved under efficient operating conditions. These standards anticipate normal breakdowns, interruptions, and account for human capabilities, aiming for efficiency without expecting perfection. Currently attainable standards focus on producing without waste and selling goods at the lowest possible average cost, known as productive efficiency. On the production possibility frontier, this efficiency is achieved when the market price equals the minimum of the long-run average cost curve in a perfectly competitive market. In contrast to productive efficiency, allocative efficiency ensures resources are allocated to their best alternative use, providing maximum societal satisfaction. An analysis of other market structures using these concepts can determine if they're less efficient, or 'imperfect,' in comparison to the 'perfect' competitive market
XYZ Escrow has been turned down in its application for an escrow license. What could be the reasoning behind the denial of the license to XYZ?A. XYZ Escrow could not prove it was financially solvent and was unable to furnish a surety bond of at least $100,000.B. XYZ Escrow could not prove it was financially solvent and was unable to furnish a surety bond of at least $25,000, or more, based upon the yearly average trust obligations.C. XYZ Escrow placed funds in a trust account that was exempt from execution or attachment.D. XYZ Escrow could not prove it was financially solvent and furnish bonds of indemnification for all employees of at least $25,000.
Answer:
B) XYZ Escrow could not prove it was financially solvent and was unable to furnish a surety bond of at least $25,000, or more, based upon the yearly average trust obligations.
Explanation:
Escrows duties require them to safe keep funds from third parties involved in sales contracts, therefore escrow companies should be solvent.
Imagine you are a client that needs to deposit $20,000 as earnest money for the purchase of a house. Would you be OK to deposit the money into an escrow company that has $0, or would you prefer to deposit your money with another escrow that is solvent. By requiring escrow companies some minimum level of solvency, that should guarantee that they will not use the money deposited to cover their own expenses.
Alcide mining company purchased land on february 1, 2017, at a cost of $1,190,000. it estimated that a total of 60,000 tons of mineral was available for mining. after it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. it estimates the fair value of this restoration obligation at $90,000. it believes it will be able to sell the property afterwards for $100,000. it incurred developmental costs of $200,000 before it was able to do any mining. in 2017, resources removed totaled 30,000 tons. the company sold 22,000 tons.
Answer:
COGS: 22,000 x $23 = 506,000
Ending Inventory: 8,000 x $23 = 184,000
Explanation:
acquisition cost: 1,190,000
development cost: 200,000
restoration cost: 90,000
salvage value: (100,000)
depreciable amount 1,380,000
1,380,000 / 60,000 tons = 23 dollars per ton:
COGS: 22,000 x $23 = 506,000
Ending Inventory: 8,000 x $23 = 184,000
When consumers are engaged in __________ the decisions and products usually feature (a) little to no risk; (b) low (relative) costs, including the costs associated with making bad choices; and (c) little to no information search. The menu of solutions is already known.
Answer:
The correct answer is routine problem-solving.
Explanation:
These are trivial routine day to day decision such as buying breakfast, purchasing pen and other small values items. These decisions do not have material financial impact if went wrong. Decision like purchasing new car, house and land etc are not included in these decisions.
However person disposal income and wealth can convert these routine problem-solving into planned one.
Merv's Hardware, a small family-owned store in Middletown, sells a 100-pack of garnet sandpaper for $35. The Home Shoppe, a large retail hardware chain in neighboring Morristown, sells the same product for $29. Based on this scenario, what would you expect Merv's immediate response to be?a) Merv will remove his advertisements and rely on word of mouth.b) Merv will reduce his price to respond to the price competition from the Home Shoppe.c) The Home Shoppe will initiate a non-price competition with Merv.d) The Home Shoppe will raise its price to respond to the price competition from Merv.
Answer: Merv will reduce his price to respond to the price competition from the Home Shoppe.
Explanation: Ideally, people always look for the best deal they can get. The home shoppe offers the same product for less price. Customers will naturally troop to the home shoppe because of the lower price of garnet sandpaper. In order for Merv to compete with a big store, he has to start with his prices first.
In an open economy, as the price level increases, a(n) ____ in demand in the quantity of domestic goods results in a(n) ____ in the quantity of GDP demanded.
a. decrease, decrease
b. increase, increase
c. decrease, increase
d. increase, decrease
Answer:
a. decrease, decrease
Explanation:
When prices increase, domestic goods becomes more expensive and the quantity of domestic goods demanded falls and export falls.
Therefore, because of the decease in quantity of domestic goods demanded, the quantity of GDP demanded falls.
I hope my answer helps you
Cindy is a baker and runs a large cupcake shop. She has already hired 11 employees and is thinking of hiring a 12th. Cindy estimates that a 12th worker would cost her $100 per day in wages and benefits while increasing her total revenue from $2,600 per day to $2,750 per day.
Should Cindy hire a 12th worker?
a. Yes
b. No
c. You need more information to figure this out
Answer:
A: Yes
Explanation:
The additional worker would cost $100 per day i.e. Marginal Cost = $100
Whereas the Marginal Revenue = (2,750-2,600) = $150
Since Marginal revenue exceeds marginal cost by (150-100) = $50, Cindy should hire 12th worker.
Euphrasia, a mixed open economy, was severely affected by a recession that almost paralyzed its service sector. The Euphrasian government announced a fiscal stimulus package of $15,000 billion to boost economic growth. GDP of the economy was expected to increase by 2.5 percent during the following year after the implementation of the fiscal stimulus package. However, it was observed that instead of increasing, the GDP of Euphrasia actually declined by 0.75 percent that year. Which of the following, if true, will explain this outcome? a. A number of public sector enterprises in Euphrasia were privatized. b. One of Euphrasia's neighboring countries, which is a closed economy, experienced a sudden decline in output and prices. c. The gross saving rate in the economy declined during that year. d. Euphrasia's population increased by 4.5 percent that year. e. Oil imports declined as countries exporting oil reduced supply.
Answer:
E) Oil imports declined as countries exporting oil reduced supply.
Explanation:
Oil is extremely important for industrialized nations and since Euphrasia is a mixed open economy, we can assume that it is an industrialized nation. Oil has become the most important energy source for more than 60 years and is the raw material for manufacturing plastic.
During the 1970s and early 1980s the American economy was shattered by an increase in the price of foreign oil and a decrease in its domestic production levels. The importance of oil is also why so many modern wars have been fought over oil production and reserves.
The project scope statement should reference supporting documents, such as product specifications that will affect what products are produced or purchased, or corporate policies, which might affect how products or services are produced. True or false?
Answer:
True
Explanation:
A project scope statement describes the parts of a project: the milestones, requirements and boundaries.
At the time of its uprising, the Industrial Revolution changed the nature of __________ in society.
Answer:
division of labor
Explanation:
At the time of its uprising, the Industrial Revolution changed the nature of division of labor in society. This refers to the concept of dividing the production of a product within the manufacturing process into various different stages. This concept or strategy helps workers focus specifically on a single task which increases performance, and thus profit for the company.
When Jim, Jill, and Jeri take ownership to a Bakersfield home, they hold their ownership concurrently. Jim has the greatest proportion, with 45%, while Jill holds 30% and Jeri the last 25%. They each have the right to individually possess, will, or sell their interest. This is known as?
Answer:
Tenancy in Common
Explanation:
A common tenancy (TIC) is among three forms of concurrent property (defined as a common-owned property in which each owner owns a share of the estate). The other two styles are a joint tenancy and tenancy by the entirety.
A common tenancy does not typically have the right to survivorship. It means that if A and B are shared tenants of an Estate, and A dies, then A's share will not go to B. Rather, the share of A goes to the selected party in the will of A.
Final answer:
Jim, Jill, and Jeri's ownership situation, where they can individually possess, will, or sell their share of a property, is known as tenancy in common, a form of concurrent ownership.
Explanation:
When Jim, Jill, and Jeri hold concurrent ownership to the Bakersfield home, where Jim has a 45% proportion, Jill holds 30%, and Jeri the remaining 25%, and they each have the right to individually possess, will, or sell their interest, this type of property ownership is known as tenancy in common. Tenancy in common is a form of ownership whereby each owner possesses a fractional share of the entire property and has the right to transfer their share independently of the other owners.
An investor pays $900 for a bond with a principal value of $1,000 and a coupon rate of 8%. How much in annual interest will the investor receive on this investment?
Answer:
Annual Interest = $80
Interest rate = 8.89%
Explanation:
The investor pays discounted price for this bond.
We know, Annual Interest = Coupon payment/Market value
Given,
Coupon payment = Principal value*Coupon rate
Coupon payment = $1,000*8% = $80
Market value = Price pays for the bond = $900
Therefore, the annual interest rate = $80/$900
Annual Interest rate = 8.89%
Note that, coupon payment is the annual interest rate.
Cat's Coaster Company uses cork in all of the protective drink coasters that it manufactures. If Cat's enters into an agreement with a cork exporter from Portugal to purchase all of the cork it needs to produce its products, this would be
If Cat's Coaster Company enters into an agreement with a cork exporter from Portugal to purchase all of the cork it needs to produce its products, this would be considered a form of outsourcing.
Explanation:If Cat's Coaster Company enters into an agreement with a cork exporter from Portugal to purchase all of the cork it needs to produce its products, this would be considered a form of outsourcing. Outsourcing is the practice of contracting with an external supplier or company to perform certain tasks or provide goods or services that were previously produced in-house.
In this case, Cat's Coaster Company is relying on the cork exporter from Portugal to supply the cork it needs instead of producing it internally. This decision may be driven by factors such as cost-effectiveness, quality, or availability of cork. By outsourcing the procurement of cork, Cat's Coaster Company can focus on its core competencies and allocate resources more efficiently.
As you move up a linear demand curve, the price elasticity of demand in absolute value__________.
Answer:
As you move up a linear demand curve, the price elasticity of demand in absolute value decrease
Explanation:
solution
when we draw a graph between price and quantity
we can see there when we move down in a linear demand curve
than price elasticity of demand is decreases
as elastic demand is = [tex]\frac{lower\ segment}{upper\ segment}[/tex] .................1
so we can see when move down demand is decreases
so here correct fill up is decrease
A. Both forward and futures contracts are traded on exchanges.
B. Forward contracts are traded on exchanges, but futures contracts are not.
C. Futures contracts are traded on exchanges, but forward contracts are not.
D. Neither futures contracts nor forward contracts are traded on exchanges.
Futures contracts are traded on exchanges while forward contracts are not. Futures contracts are standardized and publicly traded on futures exchanges while forward contracts are private agreements traded over the counter.
Explanation:The correct answer is C: Futures contracts are traded on exchanges, but forward contracts are not.
Futures contracts are standardized agreements to buy or sell an asset at a predetermined price on a specified future date, and they are traded on futures exchanges. These exchanges provide the marketplace where these contracts are bought and sold, thus making them easily accessible to interested parties.
In contrast, forward contracts also involve an agreement to buy or sell an asset at a predetermined price on a specified future date. However, forward contracts are not traded on exchanges. Instead, they are private agreements between two parties and are contracted in the over-the-counter (OTC) market where they can be customized to fit the specific needs of the contracting parties.
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Which of the following multinational corporations (MNCs) places local nationals in key positions and allows these managers to appoint and develop their own people? . a) Regiocentric multinational corporations (MNCs) b) Ethnocentric multinational corporations (MNCs) c) Polycentric multinational corporations (MNCs) d) Globalcentric multinational corporations (MNCs).
Answer:
C) Polycentric multinational corporations (MNCs)
Explanation:
The word Polycentric comes from the Greek pólus "many", and kentrikós "center", therefore, a polycentric multinational corporation is a corporation that:
Is present in two or more nations, therefore, it is referred to as "multinational".Has many "centers" of operation, therefore, it is referred to as "polycentric".A polycentric multinational corporation (MNCs) establishes local people in the top management positions in each country. This can result in a more rapid adaptation to the foreign market.
Final answer:
Polycentric MNCs hire local nationals for key managerial positions, allowing these managers to appoint and develop their own people, understanding that this approach can be more culturally and contextually appropriate.
Explanation:
The multinational corporation (MNC) that places local nationals in key positions and allows these managers to appoint and develop their own people fits the description of a polycentric multinational corporation (MNC). Polycentric MNCs operate under the philosophy that the managerial and business strategies that work in one country will not necessarily be successful elsewhere. They use a host country-focused approach, meaning they hire management from within the host country to run the operations there, with the idea that locals will better understand the culture and environment. The correct answer to the student's question is c) Polycentric multinational corporations (MNCs).
When comparing the Alternative Minimum Tax calculation to the Regular income tax calculation, which deductions are ONLY permitted in the Regular income tax calculation?
I Personal exemption
II State and local tax deduction
III Miscellaneous itemized deductions
IV Medical expense deduction
A. I and II only
B. III and IV only
C. I, II, III
D. I, II, III, IV
Answer:
C) I, II, III
Explanation:
When you are calculating alternative minimum tax many of the basic deductions allowed when calculating regular income are not permitted. When you are calculating alternative minimum tax there are no personal exemptions, no deductions for state and local taxes, no standard deductions and no deductions for miscellaneous items.
Medical expenses are deductible when calculating alternative minimum tax, but only if they exceed 10% of adjusted gross income (AGI).
The deductions that are only permitted in the Regular income tax calculation and not for the Alternative Minimum Tax include personal exemptions, state and local tax deductions, and miscellaneous itemized deductions. Option C is correct.
When comparing the Alternative Minimum Tax (AMT) calculation to the Regular income tax calculation, certain deductions that are permitted in the Regular tax calculation are disallowed for the AMT. For the AMT, you can't deduct:
Personal exemptionsState and local tax deductionsMiscellaneous itemized deductions (such as unreimbursed employee expenses, tax preparation fees, and investment expenses)Medical expenses are typically deductible for both the AMT and the Regular tax calculations, subject to certain thresholds. Therefore, the answer to the question is: I, II, III
These rules indicate the distinct differences in allowable deductions between the AMT and the Regular tax systems, highlighting how the AMT targets certain tax benefits to ensure that those with higher incomes pay a minimum amount of tax.
A mutual fund manager would use beta as part of the analysis of the funds performance in order to ___________.
Answer:
A mutual fund manager would use beta as part of the analysis of the fund performance in order to measure systematic risk.
Explanation:
Systematic risk is a risk that is not diversifiable and market imposed. It is measured by beta. A mutual fund manager uses beta as part of the analysis so as to measure systematic risk.
Which of the following is a result of over-diversification through acquisition? Select one:
1. Corporate-level executives will have a rich understanding of all of the firm’s business units
2. Corporate-level executives tend to rely on strategic control when evaluating their business units’ performance.
3. Firms use acquisition as a substitute for innovation.
4. Managers become long-term in their orientation.
Answer:
3) Corporations use acquisition as a substitute for innovation.
Explanation:
The fastest way in which a corporation can enter a new market or develop new products is through buying existing companies that already operate in the new target markets or have developed the new products that the corporation wishes to sell.
Research and development is very costly and time consuming, and on many occasions the results aren't even good or are not as good as expected. By acquiring a smaller company that has already developed the product, then the corporation might even save money.
Over-diversification through acquisition can result in executives having a weaker understanding of all business units due to the complexity and increased management layers, leading to a reliance on strategic control for performance evaluation and potentially using acquisition as a substitute for innovation.
One of the results of over-diversification through acquisition is that corporate-level executives might not have a deep understanding of each individual business unit due to the complexity and sheer number of those units. When a firm grows too large through acquisitions or mergers, there can be a duplication of services and an increase in management layers, which leads to communication complexity and possibly information overload. This complexity can detract from an executive's rich understanding of each business's specific needs and performance, and instead, they may have to rely more on strategic control mechanisms to evaluate performance. Additionally, the engagement in frequent acquisitions could mean the firm is using acquisitions as a substitute for innovation, rather than focusing on organic growth and innovation within their existing lines of business.
In the "social accounts", Net National Product ________ Indirect Business Tax (sales taxes) yields National Income (NI).
1. minus
2. plus
3. divided by
4. multiplied by
Answer:
Minus
Explanation:
Gross Domestic Product (GDP) is the aggregate of the market value of all the final goods and services produced in an economy in a given period.
Gross National Product( GNP): measures the market value of all the final goods and services produced by the citizens (nationals) of a country irrespective of where they reside. Also, incomes generated by foreigners are subtracted from the aggregate because they are not nationals.
GNP= GDP + Incomes earned by nationals from abroad - Incomes generated by foreigners
Net National Product (NNP) ; This accounts for the total value created in the economy after the depletion in capital has been accounted for. Production activities result in consumption and depletion in capital stocks (machines, roads and other infrastructures). To ensure that the economy restores its stock of capital after the accounting period, an amount for capital consumption is deducted from the aggregate income. It is called capital allowance or depreciation.
NNP= GNP - Depreciation
National Income (NI) aggregates all the incomes earned by all the economic agents in the economy. Using the expenditure approach, it is the case that money received by firms for the exchange of their goods and services are usually inclusive of consumption taxes- indirect taxes. These taxes are not part of the incomes earned by the firms, rather they are remitted to the government.
So indirect taxes are deducted from the aggregate to arrive at the National Income
In Geoffrey Chaucer's time, the makers of the fine objects we can see today in the world's great art museums learned their trade in associations called ______.a. clubsb. workhousesc. schoolsd. guildse. none of these
Answer:
D) guilds
Explanation:
New members would usually start as apprentices, and learn from other master members during a relatively long period of time. Apprentices were usually teenagers when they entered a guild and the learning period lasted up to 14 years. Once the apprentice mastered the crafting techniques, he became a master member.
Guilds were very important and powerful in medieval Europe from the 11th to 16th century. They were able to limit specialized labor, set prices and define tools and techniques.