In Vintland, wild-caught oysters are being replaced with farmed oysters, which have fewer negative effects and many more significant benefits. However, the production efficiency of farmed oysters has driven down the price of oysters so significantly that wild-caught oysters can no longer compete. After six months, everybody has switched to the cheaper and better farmed oysters. Please select the choice below that best describes the short-run effects of this industrial change on Vintland's GDP and its standard of living. Assume that Vintland consumes the same quantity of oysters now as they did six months ago.
A. GDP increases and standard of living decreases
B. GDP decreases and standard of living increases
C. GDP and standard of living both decrease
D. GDP and standard of living both increase
E. There is not enough information to answer the question
Answers: 1
Business, 21.06.2019 16:10, ilovemymodelinglife
Martinez manufacturing applies overhead based on direct labor hours. the company estimates that their overhead for the year will be $180,000, and that they will use 72,000 direct labor hours. during the year, martinez manufacturing actually used 75,000 direct labor hours and actual overhead costs were $190,000. at the end of the year, manufacturing overhead was: overapplied by $2,500. overapplied by $10,000. underapplied by $2,500. underapplied by $10,000.
Answers: 2
Business, 21.06.2019 20:30, elissadiaz15
1. gdp is calculated by summing consumption, investment, and exports of all final goods and services produced within the borders of a given country during a specific period the dollar value of all final goods and services produced within the borders of a given country during a specific period government expenditures within the borders of a given country during a specific period the quantity of all final goods and services produced within the borders of a given country during a specific period
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Business, 22.06.2019 08:30, bartonamber4042
What has caroline's payment history been like? support your answer with two examples
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In Vintland, wild-caught oysters are being replaced with farmed oysters, which have fewer negative e...
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