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2 years ago

Which statement represents most correctly the relationship between nominal GDP and real GDP?

Business

1 answer:

Nady [450]2 years ago

8 0

Answer:

The answer is: C) Nominal GDP measures current production using current prices, whereas real GDP measures current production using base-year prices.

Explanation:

Nominal GDP measures the production of total finished products and services within a country during a particular period using the current prices of the products and services. Real GDP measures the production of total finished products and services within a country during a particular period using base-year prices of the products and services.

Nominal GDP doesn't take in account inflation, while real GDP is adjusted by inflation. Nominal GDP is also higher than the real GDP since recent prices are higher than the base-year prices (due to inflation). Real GDP can be used to compare the economy's evolution over periods of time.

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Jean Michaud pays his two employees $900 and $1,200 per week. Assume a state unemployment tax rate of 5.7% and a federal unemplo

seraphim [82]

Answer:

The quarter has 3 months so all 15 weeks shall have following taxes:

Employee Wages Exempt under FUTA or SUTA

Employee 1

Wages = 15 week x 900 = 13.500

Exempt under FUTA or SUTA = 13,500 - 7,000 = 6.500

Employee 2

Wages = 15 week x 1200 = 18.000

Exempt under FUTA or SUTA = 18.000 - 7,000= 11000

From the above table.

The JM pays employee 1: 900 and employee 2: 1,200. For 15 weeks they were paid,

Employee I is paid, 900 x 15 weeks

= 13,500

Employee 2 is paid, 1200 x 15 weeks

= I 8,000

For employee 1,

= 13,500 - 7,000

Here, SUTA tax is 5.4% on the first 7,000 the employer pays an employee = 6500

For employee 2,

=18,000 - 7000

Here, the SUTA tax is 5.4% on the first 7000 the employer pays an employee =11000

The taxable wages are obtained by deducting.

= (13,500 +18000) - (6,500 +11,000)

= 31500 - 17500

= 14000

The SUTA and FUTA taxes that JM pays at the end of quarter 1 and 2 is, SUTA,

0.057 x 14,000 = $798

FUTA.

0.008 x 14000

= $112

Hence. The SUTA and FUTA taxes paid are $798 and $112 respectively.

4 0

3 years ago

What is the corpus callosum?

Nana76 [90]

The corpus callosum is the part of the brain that has white matter that helps in the connection of the left and the right cerebral parts of the human brain.

<h3>What is the role of the corpus callosum?</h3>

The role of the Corpus Callosum is to make sure that the right side and the left side of the brain are able to connect.

By the word connect, this would mean that they are able to send messages to each other.

Read more on corpus callosum here: brainly.com/question/13094825

#SPJ12

4 0

1 year ago

The chairman of a welfare organization asks an employee to head a fundraising activity. The employee, however, embezzles $250,00

GenaCL600 [577]

Answer:

The answer is unethical and illegal

Explanation:

Unethical behavior is an action that falls outside of what is considered morally right or proper for a person, a profession or an industry.

Embezzlement is a type of fraud, which is defined as a "knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment."

3 0

3 years ago

As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of So

julsineya [31]

Answer:

SORIA COMPANY

Clothing Department

Flexible Budget Report

For the Month Ended October 31, 2017

See attachment.

In flexible budgeting, the fixed costs are assumed to be constant within the relevant range. Only the variable costs are flexed.

Workings:

1. Sales Commission = $1,680/8,400 x 9,000 = $1,800

2. Advertising = $1,176/8400 x 9,000 = $1,260

3. Travel Expense = $4,032/8,400 x 9,000 = $4,320

4. Free Samples = $1,680/8,400 x 9,000 = $1,800

Explanation:

The flexible budget is one that flexes the activity level or volume in order to recognize changes that may arise. This changes the base volume of the variable costs.

To achieve this, the value under the static budget is divided by the static budget volume and multiplied by the flexed budget volume(s).

In this case, when the budget was flexed from the static sales volume of 8,400 to 9,000 in accordance with the actual volume achieved, the favorable value was increased from $1,188 to $1,800 more than 50% increase.

The implication is that a flexible budget helps to better evaluate performance than its opposite, the static budget.

Download xlsx

8 0

3 years ago

Uncertainties such as natural disasters are: Select one: a. Estimated liabilities because the amounts are uncertain. b. Not cont

Dovator [93]

Answer:

d. Disclosed because of their usefulness to financial statements.

Explanation:

A <em>liability</em> is a present obligation (Legal or Constructive) of an Entity that arises as a result of a past event and the settlement of which will result from an out flow of cash from the entity.

One class of Liability that relate to the case is a <em>Provision</em>.A provision is a liability whose amount can be determined with certainty.

A liability whose amount can not be determined with certainty is known as a <em>Contingent liability</em>.A contingent liability is not presented in the financial statements but is only disclosed in the Financial Statements.

6 0

3 years ago