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Nataliya [291]
3 years ago
13

The annual output and prices of a 3-good economy are shown in the table below. instructions: enter your answers as whole numbers

.
a. what was gdp in year 1? $ .
b. what was gdp in year 2? $
Business
1 answer:
Alex777 [14]3 years ago
3 0

In getting the GDP or Gross Domestic Product for year 1 and year 2, you should multiply the price to the quantity of goods sold and add them all up.

 

For GDP Year 1

 

Given:

 

Quarts of Ice Cream with a price of $6 and 4 quantity of goods.

 

Bottle of Shampoo with a price of $5 and 2 quantity of goods.

 

Jars of Peanut butter with a price of $3 and 4 quantity of goods.

 

= (6 x 4) + (5 x 2) + (3 x 4)

 

= $46

 

For GDP Year 2, the same products with different price and quantity.

 

= (6 x 6) + (5 x 3) + (3 x 3)

 

= $60

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When reviewing the balance sheet for Portable Pet Care, Inc., a mobile small animal care business, Ricky noted the following inf
mash [69]

Answer:

The net worth (owners' equity) for this business is $2.2 million

Explanation:

Net worth: It is also known as owner's equity which is a difference between total assets and total assets.

In this question, we use the accounting equation which is used to balance the debit and credit side of the balance sheet items.

So, the accounting equation is

Total Assets = Total Liabilities + Owner's Equity

where,

Company assets are $3.5 million

And, liabilities is $1.3 million

Now, apply the above equation to find out the value of the owner's equity

So, owner equity would be equals to

= $3.5 million - $1.3 million

= $2.2 million

Hence,  the net worth (owners' equity) for this business is $2.2 million

3 0
3 years ago
How do most companies pay the current liabilities incurred by day-to-day operations?.
elixir [45]

Current assets, or possessions used up within a year, are generally used to settle current liabilities.

<h3>Why do you use the term "current liabilities"?</h3>
  • Current liabilities are debts or commitments that fall due within a year or during the regular business cycle. Additionally, current obligations are paid off by using a current asset, either by generating a fresh current liability or by using cash.
  • In accounting, current liabilities are frequently interpreted as all debts owed by a company that must be paid in cash within the fiscal year or the operational cycle of that particular company, whichever is longer.
  • Current assets, or possessions used up within a year, are generally used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current liabilities, along with any outstanding income taxes.  

To learn more about Current assets refer to:

brainly.com/question/13188114

#SPJ4

6 0
1 year ago
Emma is the labor union negotiator. Today, she is meeting with management to discuss the new five-year contract, including wages
Sergio [31]

Answer:

Distributive bargaining

Explanation:

Distributive bargaining can be defined as a type of bargaining system/strategy in which one party gains only if the other party loses.

Distributive bargaining is mostly used when there is a negotiation that involves fixed resources e.g; money, assets, etc.

Distributive bargaining as a negotiation strategy does not aim to provide a win-win situation for all parties involved but that one party loses while the other gains considerably.

An example of distributive bargaining is a supermarket having a fixed price for an item. in that situation, you can't bargain and as such you either buy the item or leave the store.

That results in a win for the supermarket and a loss for you the buyer should yo choose to buy the item.

Cheers

5 0
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QveST [7]
$3.00 probably because if it,s $3.00 it should be very elastic
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Outsourcing of jobs works best for jobs that require problem solving and creativity. TRUE or FALSE.
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