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Anarel [89]
2 years ago
9

In the base year in a small island macroeconomy, nominal GDP was $400m. In a later year when the general level of all prices was

twice as high, nominal GDP reached $1000m. Between the base year and the later year: A. Real GDP declined. B. There was real GDP growth by more than 100% C. There was real GDP growth, but by less than 100% D. Inflation occurred.
Business
1 answer:
Cerrena [4.2K]2 years ago
8 0

Answer:

Both options C and D are correct.

Explanation:

Inflation refers to an increase in the general price level of goods and services overtime. Since it is conveyed in the question that the general price level in a later year became twice as high, inflation definitely occurred. Hence, option D is correct.

Nominal GDP is the value of the total output at current market prices. Real GDP adjusts that value for inflation. As prices double, nominal GDP ought to increase from $400m to $800m. However, it actually rose to $1000m. This additional increase of $200m shows that the real GDP has risen. However, the increase in real GDP is less than 100%. This implies option C is also correct.  

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Answer:

Manufacturing Cost = 94,100

Explanation:

Given that,

Direct materials used = $ 20,500

Direct labor used = 26,000

Factory overhead = 47,600

Beginning work in process = 12,200

Ending work in process = 12,800

Manufacturing Cost = Direct Material + Direct Labor + Factory Overhead

Manufacturing Cost = $20,500 + 26,000 + 47,600

Manufacturing Cost = 94,100

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Compile a job advertisement for a receptionist vacancy
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Answer:

<h2>                     RECEPTIONIST NEEDED - FRONT DESK</h2>

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3 0
3 years ago
L.L. Bean, the founder of the company that bears his name, left a company legacy that consists of three fundamental core values:
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Explanation:

7 0
3 years ago
Assume an indifference map with other goods on the vertical axis and health on the horizontal axis. The government provides fami
Savatey [412]

Answer:

C. have a zero slope up to $400 and then have a negative slope.

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Here in the attached diagram

H denotes the individual income

H = Services of the healthcare

G = Other goods

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6 0
2 years ago
Klean Fiber Company is the creator of Y-Go, a technology that weaves silver into its fabrics to kill bacteria and odor on clothi
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Answer:

Klean Fiber Company

Incremental Analysis for the

Special order by the U.S. Army:

Units to be purchased =            249,700

Sales Revenue                               $4.42

Variable costs:

Direct materials                              $1.96

Direct labor                                      0.47

Variable manufacturing overhead 0.98

Total variable costs                         3.41

Additional for contribution margin  1.01

Contribution margin =               $252,197 ($1.01 * 249,700)

Explanation:

a) Data and Calculations:

Annual production capacity = 1,053,000

                                           Per Undergarment          Total

Direct materials                              $1.96              $2,063,880

Direct labor                                      0.47                     494,910

Variable manufacturing overhead 0.98                  1,031,940

Fixed manufacturing overhead       1.41                  1,484,730

Variable selling expenses              0.38                    400,140

Totals                                            $5.20             $5,475,600

8 0
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