1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vika [28.1K]
3 years ago
5

Consider the following data that gives the quantity produced and unit price for three different goods across two different years

to answer the following questions. Assume that the base year is 2015. Good 2015 Price 2015 Quantity 2016 Price 2016 Quantity A $2 250 $3 200 B $3 300 $2 400 C $4 400 $5 500 What was the growth rate of real gross domestic product (GDP) between the two years
Business
1 answer:
Dafna1 [17]3 years ago
3 0

Answer:

20%

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has  

Real GDP in 2015 = ( $2 x 250) + ($3 x 300) + ($4 x 400) = $3000

Real GDP in 2016 = ( $2 x 200) + ($3 x 400) + ($4 x 500) = $3600

Growth rate in real GDP = $3600 / $3000 - 1 = 0.2 = 20%

You might be interested in
To comply with the "Jim Crow" laws, Milton, the owner of a chain of restaurants, reserves the restaurants on Wiley Street for wh
mihalych1998 [28]

Answer:

separate-but-equal doctrine

Explanation:

The separate-but-equal doctrine was upheld as constitutional in the US since according to this doctrine, racial segregation didn't violate the Fourteenth Amendment to the Constitution because colored people received the same service as white people.  

The Fourteenth Amendment guaranteed equal protection for everybody, in this case it guarantees equal service.

4 0
3 years ago
A firm has production function f(L,K,M)=L+K2+4M, where L is units of labor, K is units of capital, and M is units of materials.
Elis [28]

Answer:

1800

Explanation:

Production Function is the relationship between production inputs & production outputs, given technology. It shows maximum output that can be produced with minimum inputs, given technology.

Production Function: f (L,K,M) = L + K^2 + 4M

K = 40 , L = 100 , M = 100

Production = 100 + (40)^2 + 100

100 + 1600 + 100

= 1800

8 0
4 years ago
Which of the following describes the mission of an organization? a. Who are we? Who will we become? b. What do we stand for and
Llana [10]

Answer:

a. Who are we? Who will we become?

Explanation:

In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan. The components of a business strategy includes the following;

I. Value.

II. Vision.

III. Mission.

A mission statement is typically a description of the overall goal or purpose for which an organization was established and what it hopes to achieve in the future.

Hence, the question of Who are we? and Who will we become? describes the mission of an organization.

6 0
3 years ago
David's marketing research returned the finding that customers were staying away from his bookstore because of a lack of service
Anton [14]

Answer:

.A. knowledge

Explanation:

Business knowledge refers to an entrepreneur's understanding of customers' preferences, staff skills,  business operations and processes, and overall market trends. When expertly gathered, business knowledge is an essential reference point for decision making. The information is useful for continued business growth and identification of new opportunities.

Market research is one way of gathering knowledge. Before the study, David appeared to be unaware of his customer preferences. Lack of business knowledge can lead to the loss of customers and the collapse of a business. Business owners can also gain knowledge through employee and supplier networks.

8 0
3 years ago
he exchange rates of the euro (€ ) and the Japanese yen (¥) relative to the U.S. dollar ($) are listed as follows: Spot Rate Eur
bearhunter [10]

Answer:

€ 0.004871

Explanation:

Direct quote is a method of quoting a foreign currency per one unit of domestic currency.

Indirect quote is a method of quoting a foreign currency in which price of foreign currency is expressed in domestic currency.

In the given question to find the units Euro per Yen we need to divide the Euro per dollar rate with the Yen per dollar rate.

Euro 0.5547 / $1

Yen 111.83 / $1

Euro per Yen = 0.5547 / 111.83 = €0.004871 per ¥1

5 0
4 years ago
Other questions:
  • According to noted economist Thomas Piketty rev: 10_02_2018_QC_CS-138299 Multiple Choice top executives are entitled to any leve
    10·1 answer
  • While it may not be possible to make the receiver happy when you deliver bad news, you can reduce bad feelings by structuring yo
    15·1 answer
  • Blue Spruce Corp. purchased equipment for $17400 on December 1. It is estimated that annual depreciation on the computer will be
    6·1 answer
  • In 2011, Armenia had a real GDP of $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and popul
    12·1 answer
  • Market positioning is done so that the target customers have an understanding of the product offered by the company in compariso
    5·1 answer
  • A group of 2-year-old infants are selected for a special program because their iq scores are very low. five years later, most of
    6·1 answer
  • An investor can trade Foreign Currency Options on all of the following EXCEPT:
    15·1 answer
  • Suppose you go to work at a company that pays $0.02 for the first day, $0.04 for the second day, $0.08 for the third day, and so
    15·1 answer
  • Other dividend policy issues
    12·1 answer
  • Identify the type of adjustment that would most likely be needed. Business B purchased a piece of equipment to be used in operat
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!