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Alexxandr [17]
3 years ago
12

Calculate total GDP for this economy given the following components of supply. Round your answer to the nearest tenth and enter

the value in trillions of dollars (i.e. $xx.x trillion).Components of GDP on the Supply Side(in trillions of dollars)a. Durable goods 3.8
b. Nondurable goods 2.7
c. Services 12.2
d. Structures 2.1 Change in inventories 0 Total ?
Business
1 answer:
Sav [38]3 years ago
8 0

Answer:

<em>The GDP Rounded to the answer to the nearest ten = $21 trillion</em>

Explanation:

What Is GDP?

<em>Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country’s economic health. </em>

<em>Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.</em>

<em></em>

<em>Using the The Expenditure Method - Aggregate Demand (AD) the formula for GDP is: </em>

GDP = C + I + G + (Ex - Im),

where “C” equals spending by consumers,

“I” equals investment by businesses,

“G” equals government spending and

“(Ex - Im)” equals net exports, that is, the value of exports minus imports.

GDP =

C = 3.8 + 2.7 + 12.2 = $18.7 trillion

I = 2.1 + 0

GDP = 18.7 + 2.1 = <em>$20.8 trillion </em>

<em>GDP = $20.8 trillion </em>

<em />

<em>Rounding the answer to the nearest ten = $21 trillion</em>

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C. Companies that are manufacturing goods in a particular country and are exporting much of what they produce lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to

Explanation:

Fluctuating exchange rates will cause companies that are manufacturing goods in a particular country and are exporting much of what they produce to lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to.

  • If the currency of a country weakens compared to that of another country, the exchange power of such currency reduces.

It simply implies that more of the weak currency will have to be exchange for little of the stronger one.

  • In this context, comparison is drawn between exchange rates and companies in foreign markets.
  • For companies manufacturing their goods locally and exporting them, they have to pay more using their weak local currency to source for raw materials.
  • This will eventually tell on the cost of production of the goods.
  • To measure up, selling price of the exports will increase.
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4 0
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Answer:

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Explanation:

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2 years ago
An auditor client sells 15 to 20 units of product annually. A large portion of the annual sales occur in the last month of the f
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Answer:

B.

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Based on the information given that a large portion of sales occur at the last month of the year, a key audit concern or risk would be the revenue or sales cutoff. This concern is on the recognition of revenue in the appropriate period as most of the sales are recorded in the last month of the year. The risk exist that such sales are recognized to meet up with the yearly sales target of the organization. The performance of analytical procedure would not be effective as the results (trend) over the past 5 years have been similar. A test of internal controls at an interim date may also not be effective as there may be multiple level connivance to ensure that sales target are met. Also, the review of period end compensation of bonuses paid may not address the identified risk as such option B which deals with revenue recognition is the most appropriate option.

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