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
sergejj [24]
3 years ago
8

The chart gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP

for both years. Use 2017 as the base year. 2016 2017 Price Quantity Price QuantityIce cream $7.00 600 $3.00 400Blue jeans $70.00 20 $20.00 90Laptops $300.00 5 $300.00 52016 nominal GDP: $2016 nominal GDP: $2017 nominal GDP: $2017 nominal GDP: $2016 real GDP: $2016 real GDP: $2017 real GDP: $2017 real GDP: $
Business
1 answer:
Mrac [35]3 years ago
4 0

Answer:

Explanation:

The chart below gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2017 as the base year.

Year                 2016             2017  

                      Price      Quantity Price Quantity  

Ice Cream $7.00        600      $3.00 400

Blue Jeans $70.00          20       $20.00   90

Laptops       $300.00            5       $300.00     5

2016 nominal GDP = $_(7 x 600) + (70 x 20) + (300 x 5)_ =  $7,100

2017 nominal GDP = $_(3 x 400)+(20 x 90) + (300 x 5)_  = $4,500

2016 real GDP = $__(7100-4500)/ 4500)) / change in ice cream price of 50%+ change in blue jean price of (70-20/20) 250%_______

= 0.57/3 = 0.19% growth. Technically the economy was better in 2016 than in 2017.

2017 real GDP = will be same as nominal, hence no growth  since this is the base year

You might be interested in
If user experience of a product is poor, _____________. Select the options that correlate with the given statement.
lesya [120]

Answer:

If user experience of a product is poor, _____________.

Of course, the conscious user will simply go away.

Explanation:

A poor product drives away the customers of the organization that is offering the product.  The reputation of the organization is also badly damaged by the poor product, especially if its production is persistent.  Poor products can lead an organization to liquidate.  The other efforts made by the organization cannot compensate for a poor product.  Even, the good products being offered by such an organization will perform poorly in the marketplace as a result of the rub-on effect created by the poor product.  Therefore, products and services should bear the mark of good quality at all times

3 0
3 years ago
Agatha's Inc. is about to introduce a new product in the market, but is not sure as to how it should price the product. The comp
krek1111 [17]

Answer and Explanation:

There are two main pricing objective and strategy i.e competitive pricing and penetrative pricing which are explained below:

1. Competitive pricing :

In this Agatha's Inc, all five rivals should evaluate pricing models for a related kind of product. If your product has a little more value added than your collegaues, then you can establish a target price target that is higher than the competitors.  

Now to do that, it's necessary to send the customer a message that they're purchasing value for a price.

2. Penetrative pricing :

When the target price is set on the basis of the competitive pricing model , it is important to obtain the product favourably from the consumer and to do so you can start selling a little lower than the target price and sell the goods as a discount or promotional deal.

If the initial sales are strong and buyers like the product then return the product to target pricing and do intensive marketing to sell the message that the product 's cost is a bargain for the value provided by the company.

The mixture of the above two pricing strategies would ensure a better positioning of Agatha's Inc product with better profitability.

3 0
3 years ago
In 2019, Rashaun (62 years old) retired and planned on immediately receiving distributions (making withdrawals) from his traditi
lubasha [3.4K]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
3 years ago
Supply chain management refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their
gizmo_the_mogwai [7]

Answer:

suppliers (or vendors)

Explanation:

Supply chain management refers to how the company manages:

  • the distribution and storing of materials needed to manufacture a product (upstream)
  • the inventory management of materials, components and final goods
  • the distribution of finished goods to final customers using different  downstream channels (wholesalers, retailers, etc.)

4 0
3 years ago
then impact of risky behaviour on one's well-being by referring to social,emotional,physical and spiritual ​
maria [59]
Spiritually, risky behavior can truly take a toll. If you are religious, your actions won’t be in line with your beliefs (most likely). There is a trickle down effect from there. Lots of times, risky behavior makes a person feel paranoid because a person is doing things s/he feels is wrong. All of that takes a toll on a person physically. When you compromise yourself, you will tend to be on an emotional roller coaster. Not a great way to live
6 0
2 years ago
Other questions:
  • When an organization needs to hire semiskilled workers and would like to keep the price of advertising low and not attract any a
    15·2 answers
  • In the liquidation of a partnership, any gain or loss on the realization of non-cash assets should be allocated:_____.
    8·1 answer
  • If purchasing power parity holds, then if the price of a basket of goods in the U.S. rose from $1.000 to $1,200 and the price of
    6·1 answer
  • Increasing segmentation of the marketplace and the need to get products to market faster in light of competitors' specialized so
    15·1 answer
  • Thomas is thinking about the car he wants to buy in a few years. He doesn't know what he should do right now so that he can buy
    9·2 answers
  • _____ mirrors the Civil Rights Act in terms of outlawing discrimination, but also requires federal contractors and subcontractor
    9·1 answer
  • If a person makes a deposit of 10000 or more into a bank account, the bank must notify the
    6·1 answer
  • Summarize what is a mutual fund!
    11·1 answer
  • Allen deposits $2,000 in his local bank. He earns 2 percent interest each year on his deposit. Jessica borrows $1,000 from the s
    6·2 answers
  • Summarize the primary characteristics of an effective internal control system for cash.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!