Answer:
a. GDP in this economy is $135.
b. Producer Value Added
(Dollars)
Farmer 70
Miller 50
Baker 15
Total $135
c. The total value added for the three producers in this economy does not equal the economy’s GDP.
b. False
Explanation:
Ordinarily, Gross Domestic Product (GDP) is the economic measure of the total value of all the finished goods and services produced within a country's borders in a specific time period, usually a year. Broadly, it comprises the totality of private consumption, fixed investment, change in inventories, government consumption, and net exports. On the other hand, value added can be defined as the economic profit made from a business activity.
Answer:
d. nominal GDP is $500, real GDP is $400, and the GDP deflator is 125.
Explanation:
Real GDP is total output produced in an economy within a given period multiplied by base year prices
Nominal GDP is the sum of all final goods and services produced in an economy within a given period multiplied by current year prices.
Nominal GDP = (100 × $3) + (50 × $4) =
$500
Real GDP = (100 × 1.5) + (50 × $5) = $400
GDP deflator = (nominal gdp / real gdp) x 100
(500 / 400) × 100 = 125
I hope my answer helps you
Answer:
The probability of no survive by the complement rule is
And the expected value would be given by:
So then the company would expect a net amount of 118.621 for the insurance.
Explanation:
Previous concepts
The expected value of a random variable X is the n-th moment about zero of a probability density function f(x) if X is continuous, or the weighted average for a discrete probability distribution, if X is discrete.
The expected value is defined by this formula:
Where represent the possible values for the random variable and the corresponding probabilities.
Solution to the problem
For this case we define X a random variable who represent the net amount of money for the company.
The probability of no survive by the complement rule is
And the expected value would be given by:
So then the company would expect a net amount of 118.621 for the insurance.
Answer: I would use Compromising conflict resolution style
Explanation:
Since Both of the parties have equal power,lack trust/openness for problem solving
and they are both under time pressure to resolve the conflict which means as a manager I would use COMPROMISING CONFLICT RESOLUTION STYLE reason been that this type of conflict resolution style would enable me find a solution that will partially please both of the parties and to help encourage both of the parties involve in the conflict to give in some points about the conflict which will inturn help me to balance the needs of both of the parties.