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alexdok [17]
3 years ago
14

The following is national income account data for a hypothetical economy in billions of dollars: gross private domestic investme

nt ($320), imports ($35), exports ($22), personal consumption expenditures ($2,460), and government purchases ($470). What is GDP in this economy
Business
1 answer:
Elena L [17]3 years ago
6 0

Answer:

The answer is $3,237billions

Explanation:

Gross Domestic Product is the market value of all final goods and services produced within a country during a given period of time usually a year.

The formula is:

G + I + C + (X-M)

where G is government expenditure or purchases

I is private domestic investment

C is personal consumption expenditure

X is export

M is imports.

Therefore, GDP is

$470 + $320 + $2,460 + ($22-$35)

$3,250 - $13

$3,237billions.

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Explanation:

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2. The main objective is to enjoy the favorite activity and pleased by the beauty of mountains and sea.

3. The main constraints are financial constraint. Money is required to buy a car and then fulfill the dream.

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Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred: Jackson
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Lucci Inc. is a retailing firm specializing in high-end merchandise. Each of Lucci's stores uses the retail inventory method by
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Answer:

1 Line item description                Cost                Retail

2 Beginning inventory                 40000            360000

3 Purchases                                  1000000        10000000

4 Transportation in                       50000

5 Purchase returns                      -20000          -196000    

6 Net purchases(3+4+5)             1030000        9804000

7 Net additional markups                                    800000    

8 Cost to retail ratio                     1070000       10964000

  component(2+6+7)

9 Net markdowns                                                -500000    

10 Sales                                                                  -9800000    

11 Ending inventory,retail(8+9+10)                       664000

Setup calculation:

Cost to retail ratio = Cost to retail ratio component at cost/Cost to retail ratio component at retail

= 1070000/10964000

= 0.097592

= 9.76%

Ending inventory,cost = Ending inventory,retail*Cost to retail ratio

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Cost of goods sold = Sales*Cost to retail ratio

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7 0
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A certain production possibilities frontier shows production possibilities for two goods, jewelry and clothing. Which of the fol
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Answer:

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Explanation:

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