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BartSMP [9]
3 years ago
14

Suppose that in 1984 the total output in a single good economy was 12,000 buckets of chicken. Also assume that in 1984 each buck

et of chicken was priced at $16. Finally assume that in 2005 the price per bucket of chicken was $20 and that 26,000 buckets were produced. What was the GDP price index for 1984 using 2005 as the base year?
Business
1 answer:
xxMikexx [17]3 years ago
6 0

Answer:

The GDP price index for 1984 using 2005 as the base year was 80%

Explanation:

The GDP price index:

X/100 = $16/$20

X = 80%

Therefore, The GDP price index for 1984 using 2005 as the base year was 80%

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A small-scale consulting firm in Hawaii was struggling financially because it was unable to generate enough capital to run its b
Sergio039 [100]

Answer:

The correct answer is relationship era.

Explanation:

The economic history of the United States has its roots in the European settlements of the 16th, 17th and 18th centuries. The American colonies progressed from marginally successful colonial economies to 13 small independent agricultural economies that joined in 1776 to form the United States of America. In 230 years, the United States grew into an immense, integrated and industrialized economy that accounts for more than a quarter of the world economy. The main causes of its expansion were the existence of a large unified market, a political-legal support system, vast areas of highly productive agricultural land, large natural resources (especially wood, coal and oil) and an entrepreneurial spirit and commitment to invest in material and human capital. The economy has maintained high peaks, attracting immigrants by millions from around the world. Technological and industrial factors also played an important role.

8 0
3 years ago
The following information was drawn from the annual reports of two companies.
Semenov [28]

Answer:

The answer is D.

Explanation:

Gross profit or margin is the profit a business generate after deducting cost of sales from its sales or revenue.

Gross profit or margin percentage is expressed as gross profit/sales(revenue) x 100

In the question, gross profit for company A is $400 and sales is $1000

Therefore, gross profit percentage is 400/1000 x 100

=40%

5 0
3 years ago
Peter temporarily takes over Thomas job in his absence,what does this move represent? (10 marks)
Ratling [72]

Answer:

A job substitution

Explanation:

A substitute is a person who takes over a job or position from another for a shorter period of time in his absence. The term is known from substitute teachers in the school, but also from substitute priests and substitute doctors who may be subordinate officials who temporarily take over for the superior.

Today, most temporary workers are used in industry and building/construction, where they give companies the opportunity for a faster adaptation to market conditions and thus help to strengthen the competitiveness of the business community.

7 0
2 years ago
Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system a
atroni [7]

Answer: Check attachment

Explanation:

Apr. 17:

Account payable:

= $6500 - $900

= $5600

Merchandise Inventory

= $5600 × 2%

= $5600 × 0.02

= $112

Cash = $5600 - $112

= $5488

Apr. 28:

Account payable:

= $12300 - $500

= $11800

Merchandise inventory

= $11800 × 1%

= $11800 × 0.01

= $118

Cash = $11682

Check attachment

8 0
3 years ago
Greese Company purchased office supplies costing $4,000 and debited Supplies for the full amount. At the end of the accounting p
tiny-mole [99]

Answer:

D) debit Supplies, $1,500; credit Supplies Expense, $1,500.

Explanation:

The first journal entry was:

Dr Supplies expense 4,000

    Cr Cash 4,000

If at the end of the year the supplies inventory equals $1,500, then the supplies expense must decrease. Expenses have a debit balance, if we want to decrease them, we must credit them.

The adjusting entry would be:

Dr Supplies 1,500

    Cr Supplies expense 1,500

This way the supplies account (asset) increases, while the expenses decrease.

6 0
2 years ago
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