Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

The manuscript for a book was typed for free by a friend.If a secretary was hired to do the same job, GDP would have been

The manuscript for a book was typed for free by a friend.If a secretary was hired to do the same job, GDP would have been higher, even though the amount of output would have been identical.Why is this?Does this make sense? Explain.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics A Modern Approach

Authors: Jeffrey M. Wooldridge

4th edition

978-0324581621, 324581629, 324660545, 978-0324660548

More Books

Students also viewed these Economics questions

Question

★★★★★

Journalize each of the following transactions assuming a perpetual inventory system. Oct. 15 Sold merchandise to Leslie Garth for $900 (cost of sales $600); terms 1IS, n/20. 16 Issued a $100 credit...

Answered: 1 week ago

Question

★★★★★

A researcher interested in investigating the genetic relationship of mitochondria to bacteria must decide on the best method to study this. What advice would you give the researcher?

Answered: 1 week ago

Question

★★★★★

6.43 Consider a binomial experiment with n = 20 and p=0.4. Calculate P(X= 10) using each of these methods: a. Table 1 in Appendix I b. The normal approximation to the binomial probabil- ity...

Answered: 1 week ago

Question

★★★★★

The balance sheet accounts of Detroit Machinery, Inc., had the following balances on October 31, 20X0: Following is a summary of the transactions that occurred during November: a. Collections of...

Answered: 1 week ago

Question

★★★★★

please dont use chat gpt 5 0 4 . .

Answered: 1 week ago

Question

★★★★★

G is employed by a Canadian-controlled private corporation. In year 1, G was granted a stock option to acquire 2,000 shares from the treasury of his employers corporation for $9 a share. At the time...

Answered: 1 week ago

Question

★★★★★

Athena firm started the year with retained earnings of $1,300,000. Their net income during the year was $250,000. They paid dividends of $25,000. They also borrowed $100,000 that they will have to...

Answered: 1 week ago

Question

★★★★★

3. The identification of Critical-to-Quality (CTQ) Features and Key Characteristics is conducted as which phase of APQP? a. Plan and Define b. Product Design & Development c. Process Define &...

Answered: 1 week ago

Question

★★★★★

QUESTION 5 Explain how the sentiment analysis could be used by Spar (South African supermarket) to improve customer service quality. Include the following: a. explain the nature and importance of...

Answered: 1 week ago

Question

★★★★★

You and your friend want to start a company that sells pancakes. Your friend can make 1 pancake in 1 minute and process a payment in 2 minutes. You take 4 minutes for 1 pancake and 2 minutes for the...

Answered: 1 week ago

Question

★★★★★

Consider a source computer (S) transmitting a packet of size 15000 bits to a destination computer (D) over a network of two routers (R1 and R2) and three links (L1, L2 and L3). L1 connects S to R1;L2...

Answered: 1 week ago

Question

★★★★★

Peer pressure typically represents a form of coercive power. True or False

Answered: 1 week ago

Question

★★★★★

4. In what way is a values system crucial to a communication process?

Answered: 1 week ago

Question

★★★★★

3. How can rumours about someone contribute to creating the behaviour we expect him / her to have? Use examples from your own everyday life.

Answered: 1 week ago

Question

★★★★★

2. How can the expectations we have of a person contribute to the image we have of him / her? Give some examples from your own everyday life.

Answered: 1 week ago

Previous Question Next Question