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natka813 [3]
2 years ago
7

If an economy produced 220 pounds of jelly beans at $5 per pound and 90 pounds of gum drops at $2 per pound in 2016, its real gr

oss domestic product (gdp) was?
Business
1 answer:
quester [9]2 years ago
4 0

Its real GDP will be $1280.

According to the data provided here, we have that;

Production of 220 pounds of jelly beans at $5 means = 220 x 5 = $1100

While the 90 pounds of gum drops at $2 = 90 x 2 = $180

As production is an investment (I) so,

real GDP = $1100 + $180 = $1280

Hence, the real GDP of the production of two consumer goods ( Commodities ) is $1280.

When the production after completion goes to the market and after selling they generate revenue and the investment and profit come back which actually calculates the real GDP of an economy.

For more queries and questions like real GDP kindly visit the link below:

brainly.com/question/6138844?referrer=searchResults

#SPJ4

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1. What is capital ?
Vlad1618 [11]
Capital is a different way to call Money
6 0
3 years ago
Magic Realm, Inc., has developed a new fantasy board game. The company sold 45,000 games last year at a selling price of $66 per
storchak [24]

Answer:

Please see below and attached.

Explanation:

1a. Prepare a contribution format income statement for the game last year. The Net operating income is $90,000.

1-b The degree of operating leverage

= $10.

2a. Net operating income increases by 220%

2b. Total expected net operating income is $288,000.

Please find attached detailed breakdown of the answers provided above

7 0
3 years ago
Use the following chart to explain how the amount of principal affects the total cost of the loan
german

Answer: The higher the principal, the higher the total cost of the loan

Explanation:

From the chart shown we can see that the loan with a higher principal has a higher total cost than the loan with the smaller principal.

This happens because the interest rate attached affects larger figures more than smaller ones. 6.47% of $6,000 is $389 which is larger than 6.47% of $5,000 which is $324 (calculating the cost of a loan is more cumbersome than this but this shows the effect as well).

When compounded overtime, this difference will be even more and thus shows that larger principals cause larger total costs.

7 0
3 years ago
The only deposits of a rare and sought-after mineral known as ursarite are found in Russia. Since no other nation has deposits o
fomenos

Answer: Russia has an absolute advantage in the mineral.

Explanation:

Absolute advantage is an economics term that means to the ability of an individual, firm, or nation to manufacture a larger quantity of a product than its competitors. 

Adam Smith proposed absolute advantage of absolute advantage in international trade by using only labor as the input. Absolute advantage is derived by comparing labour productiveness between countries.

Russia has an absolute advantage because it's the nation that can produce the highest amount.

4 0
3 years ago
According to Walter Shewhart:_______
Novosadov [1.4K]

Answer:

c) the mean, upper control limit, lower control limit and warning lines that are two sigma from the mean are indicated by horizontal lines in the control chart.

Explanation:

Walter Shewhart is regarded as an important personality in the history of quality management. He asserted that the behavior of real processes had the tendency to change as time changed and it was not the behaviur of theoretical random distributions.

Walter Shewhart posited that causes of variation could be divided into two which are chance cause and assignable cause. He maintained that chance causes could be ignored if they did not cause too much variation, and any attempt to eliminate them usually made the problem worse. He however posited that it was possible to fix assignable causes.

Walter Shewhart invented control chart in order to differentiate between variations caused by random events and trends that indicated assignable causes. There is time and a plot of sample measurements on the bottom axis of a control chart. The mean, upper control limit, lower control limit, and warning lines that are two sigma from the mean are indicated by horizontal lines.

Based on the above explanatio, the correct option is c) the mean, upper control limit, lower control limit and warning lines that are two sigma from the mean are indicated by horizontal lines in the control chart.

8 0
3 years ago
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