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
MatroZZZ [7]
3 years ago
7

Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fires are

sold at $1.50 each.
In 2008, the base year, burgers sold for $2.50 each and bags of fries sold for $2 each.

a. nominal GDP is $22,000 real GDP is $21,000, and the GDP deflator is 95.45.

b. nominal GDP is $22,000, real GDP is $21,000, and the GDP deflator is 104.77.

c. nominal GDP is $21,000, real GDP is $22,000, and the GDP deflator is 95.45.

d. nominal GDP is $21,00, real GDP is $22,000, and the GDP deflator is 104.77.
Business
1 answer:
sergejj [24]3 years ago
8 0

Answer:

Option (C) is correct.

Explanation:

Nominal GDP:

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4000 × 3) + (6000 × 1.5)

= 12,000 + 9,000

= $21,000

Real GDP (in 2008 prices)

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4,000 × $2.50) + (6000 × $2)

= 10,000 + 12,000

= $22,000

GDP deflator:

= (Nominal GDP ÷ Real GDP) × 100

=  (21000 ÷ 22000) × 100

= 95.45

You might be interested in
A man needed money to buy lawn equipment. He borrowed ​$700.00 for five months and paid ​$53.95 in interest. What was the rate o
Westkost [7]

<u>Answer:</u> The rate of interest per year is 18.49 %.

<u>Explanation:</u>

To calculate the rate of interest, we use the equation:

\text{Interest paid}=\text{Amount borrowed}\times \text{Rate of interest}\times \text{Time}

where,

Interest paid = $ 53.95

Amount borrowed = $ 700

Rate of interest = ?

Time = 5 months = \frac{5}{12}    (Conversion factor: 1 yr = 12 months)

Putting values in above equation, we get:

\$53.95=\$700\times \text{Rate of interest}\times \frac{5}{12}\\\\\text{Rate of interest}=0.1849\times 100=18.49\%

Hence, the rate of interest per year is 18.49 %.

8 0
2 years ago
Why would decreased wages be an added problem for the Pullman workers?
NNADVOKAT [17]
Mark Brainliest please

Answer

The company cut their wages and extended their hours


Explanation:
Pullman was a company in the US that built and operated sleeping rail cars that operated on the railroads of the United states. These rail cars were also known as Pullman named after its company Pullman.
Pullman was founded by George Pullman and this company started from 1867 up until 1968. the workers working for Pullman had strike actions against their company as with many other workers who usually strike when not satisfied with the company. one reason of the strike was " The company cut their wages and extended their hours" this action was unfair and led to strikes against Pullman by the workers.
4 0
3 years ago
A farmer grows wheat, which she sells to a miller for $70. The miller turns the wheat into flour, which she sells to a baker for
nadezda [96]

What is the question? Please be specific.

6 0
2 years ago
What's the difference between buying a car with a loan and leasing a car
drek231 [11]

Answer:

leasing is like selling it buying it with a loan is like u dont have eough money so the bank gives u money and u have to repay them with intrests

Explanation:

4 0
2 years ago
The larger the investment you make, the easier it will be to
worty [1.4K]
A) get money from other sources
7 0
2 years ago
Other questions:
  • An illness that affects the brain and reduces a person's ability to cope, to adjust to every day life changes, or to get along w
    12·2 answers
  • Which of the following is an example of how advanced technology has helped the modern economy ?
    14·1 answer
  • Consuela noticed significant growth in the hispanic population in her mid-size town. the local grocery carried mostly traditiona
    11·1 answer
  • The Nixon Corporation’s common stock has a beta of 1.7. If the risk-free rate is 4.8 percent and the expected return on the mark
    11·1 answer
  • Granite Inc. is a reputable company that has contributed a lot toward the social welfare of the people. It has also improved wor
    11·1 answer
  • Suppose C1 and C2 form a partition of sample space S. Suppose A and B are two events such that the following statements are true
    7·1 answer
  • Assume you are to receive a 30-year annuity with annual payments of $2,000. The first payment will be received at the end of Yea
    9·1 answer
  • Consider the following transactions for Huskies Insurance Company:
    8·1 answer
  • The restructuring of companies like Hewlett-Packard and McGraw Hill were a direct result of ___________ affecting change, by inf
    8·1 answer
  • Marketing organizations should choose their rivals carefully because the competitors that marketing strategists choose to hate a
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!