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Lisa [10]
3 years ago
14

An economy produces only 1,000,000 computers valued at $2,000 each. Of these, 200,000 are sold to consumers, 300,000 are sold to

businesses, 300,000 are sold to the government, and 100,000 are sold abroad. No computers are imported. At the end of the year, the computer manufacturers hold the unsold computers in inventory. What is the value of GDP?
Business
1 answer:
larisa [96]3 years ago
5 0

Answer:

The answer is: The total value of GDP is $2 Billion

Explanation:

The formula for calculating GDP is:

GDP = C + I + G + (X – M) = $1,000 MM + $200 MM + $600 MM + $200 MM

GDP = $2,000 MM (or $2 Billion)

  • consumption: $1 billion ($400 MM consumers + $600 MM businesses)
  • investment: $200 MM (change in inventories)
  • government: $600 MM
  • exports - imports: $200 MM (no imports)

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The correct answer is option D.

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GDP can be defined as a measure to calculate the economic growth of a nation. It includes the production of final goods and services in the geographical boundaries of a nation.

It does not include home production of goods and services, this is because such goods and services do not involve a market transaction. For instance, if a person is baking bread at home he/she is not being paid for it by anyone.

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Which of the following statements about price wars is true?Multiple Choice a. Firms that have to deal with the possibility of pr
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Answer:

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If the prices are favorable to producers, it is benefit to them, and then they supply a high quantity, whereas the demand decreases.

When a firm tends to believe to have some price wars, basically not the price the supplier wants, or the industry is against the price determined by the supplier then, the firm chooses to use stick price. That the price do not fluctuate, and gets fixed with as the firm is not ready to supply below a certain level of price.

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4 years ago
Ospry Company has working capital in the amount of $ 1,240,000 . For the following transactions, determine whether working capit
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In short, working capital is the money available to meet current short-term obligations. To ensure your working capital is working effectively, you need to calculate your current situation, anticipate your future needs, and consider how to ensure you always have enough cash.

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