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Lerok [7]
2 years ago
8

If real gdp in a year was $3,668 billion and the price index was 112, then nominal gdp in that year was approximately

Business
1 answer:
xenn [34]2 years ago
6 0

The nominal GDP in that year will be $4018 billion.

<h3>What is Nominal GDP?</h3>
  • Nominal gross domestic product is GDP calculated using the most recent market prices. GDP measures the monetary worth of all the goods and services a nation produces. Nominal GDP differs from real GDP in that it considers inflation, which represents how quickly prices are rising in an economy.
  • The monetary worth of the products and services produced is the standard way to calculate GDP.
  • Nominal GDP can overstate the growth rate because it does not account for the rate of price increases when comparing one period to another.
  • Growing pricing rather than increasing the number of goods and services produced may cause nominal GDP growth from year to year.
  • Nominal GDP is the starting point, whereas real GDP includes price changes.

we know that

Nominal GDP = Real GDP × Price index

Nominal GDP = $3668 × .112

Nominal GDP =  $4018

hence, the nominal GDP in that year will be $4018 billion.

To learn more about Nominal GDP with the given link

brainly.com/question/15171681

#SPJ4

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Determine the amount of the 2018 standard deduction allowed in the following independent situations. In each case, assume the ta
wlad13 [49]
I believe it’s b.
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4 0
3 years ago
On January​ 1, 2017, Walker Sales issued​ $19,000 in bonds for​ $14,300. These are​ eight-year bonds with a stated rate of​ 13%,
AysviL [449]

Answer:

$14,887.5

Explanation:

Carrying Value of the bond is the net of Face value and any amortised discount on the bond.

Face Value of the bond = $19,000

Issuance Value = $14,300

Discount Value = $19,000 - $14,300 = $4,700

This Discount will be amortized over the bond's life until the maturity on straight line basis.

Amortization in each period = $4,700 / (8x2) = $293.75 semiannually

Until December 31, 2017 two payment have been made and $587.5 is amortized in the two semiannual periods.

Un-amortized Discount = $4,700 - $587.5 = $4,112.5

Carrying value of the bond  = Face value - Un-amortized Discount = $19,000 - $4,112.5 = $14,887.5

7 0
3 years ago
Joshua is retired. He lives on a fixed pension. His daughter Sue just bought a house. She has fixed rate of interest on her mort
Radda [10]
<h2>Joshua would lose and Sue would benefit from unanticipated inflation.</h2>

Explanation:

  • Both Joshua and Sue are associated with fixed pension and fixed interest respectively.
  • Now the value of money goes down due to inflation
  • So to live as usual, Joshua need to spend some extra money. But considering the fixed income, it's a lose to Joshua
  • Whereas Sue is associated with fixed interest of mortgage. She is benefited because, though the inflation has changed the value of all other products, but the fixed interest rate does not change.
  • "Fixed-rate mortgage holders are inflation winners", says "Thoma, professor of economics at the University of Oregon"
6 0
3 years ago
An example of opportunity cost:
maria [59]

Answer: b. Is the Chinese food that you gave up when you chose to eat Italian food.

Explanation: Opportunity cost refers to the cost of the next best alternative foregone or sacrificed. When an individual chooses to take a certain action, then his opportunity cost of doing that will be the alternatives that he has foregone.

IT can be expresses as,

Opportunity cost = \frac{Units sacrificed}{Units Gained}

When the individual chooses Chinese food when he could have choose to eat Italian food, his opportunity cost will be the Chinese food that you gave up.

For other options there is no information on what was given up.

8 0
3 years ago
Zoey Bella Company has a payroll of $10,000 for a five-day workweek. Its employees are paid each Friday for the five-day workwee
juin [17]

Answer:

                                  Dr.         Cr.

Salaries Expense   $8,000

Salaries payable                   $8,000

Explanation:

Four days of the week passed until December 31. So, the accrued expense will be as follow:

Payroll for 5 days = $10,000

Payroll for 1 days = $10,000 / 5  = $2,000

Payroll for 4 days = $2,000 x 4  = $8,000

Accrued Expense of $8,000 should be recorded and a liability will be made against this expense as payment has not been made.

5 0
3 years ago
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