Why businesses care about GDP to such an extent that they want early estimates. Concept Introduction: Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Question

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Answer 1

Question

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

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Answer 2

Question

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

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Answer 3

Question

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

Answer 6

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.

Answer 7

Chapter 22, Problem 1BCQ

To determine

Why businesses care about GDP to such an extent that they want early estimates.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all the finished goods and services produced by resident and non-resident people of a country that is within that particular country’s border in an accounting year.

Answer 8

Expert Solution & Answer

Explanation of Solution

GDP is greatly significant in a business as it tends to reflect the measure of the size of any economy and also the economic performance. As in the given case, many companies and other players so eagerly wait for the GDP that they consider the predicted GDP does not even wait for the official estimates.

A business always wants to have the latest figures to conduct early estimates for analysis and comparison. This prediction helps them in predicting the demand for goods and services in the economy.

If the business does not have early estimates, then they can lag behind because there is a cut-throat competition. To survive in the competing world, quick estimates and quick reaction are needed.

Conclusion:

Thus, the GDP matters in the business.