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]
4 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]4 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
In order to break even, your minimum selling price must be __________ your variable costs.
vovikov84 [41]
The answer to your question is c

6 0
3 years ago
At December 31, Idaho Company had the following ending account balances:
telo118 [61]

Answer:

Balance of Stockholder's Equity at December 31 is $1,910,000.

Explanation:

This will appear as follows

Idaho Company

<u>Details                                                                         $      </u>

Stockholder's Equity:

Common Stock                                                       525,000

Preferred Stock                                                      500,000

Additional Paid-In Cap. - Common Stock             625,000

Additional Paid-In Cap. - Preferred Stock              50,000

Treasury Stock                                                        (40,000 )

Retained Earnings                                                <u>  250,000  </u>

Balance at December 31                                    <u>   1,910,000  </u>

5 0
3 years ago
In the retail industry, ABC tries to add value to their products and services so they can attract customers who are willing to p
kicyunya [14]

Answer:

A. Differentiation strategy.

Explanation:

In a market different firms try to maintain a competitive edge over others. This is achieved by using various strategies like: Differentiation strategy, Local strategy, Regional strategy, Cost-leadership strategy, Global strategy.

In the given scenario ABC tries to add value to their products and services so they can attract customers who are willing to pay a higher price.

This is a differentiation strategy where a firm tries to make their product different from.otgers in order to maintain a competitive advantage over others

5 0
3 years ago
Whats the difference between financial planning and financial goals
defon

Answer:

Financial Goals are the personal objectives that you want to achieve by setting up how to save and spend money. Examples like saving money to buy a house, saving for retirement, starting a business, paying off student debts, etc.

Financial Planning is to evaluate your current financial condition and create a plan to keep you on tract on achieving your goal. You'll need to address current savings, investments, taxes, insurances and consider any future income needs, vacations, etc. anything that will affect you financially.

Explanation:

5 0
4 years ago
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently
a_sh-v [17]

Answer:

my mind is blank. how is even an adult supposed to answer this. i read it and it makes no sense. pls rethink before u send ok?

just a top tip for u

Explanation:

5 0
3 years ago
Read 2 more answers
Other questions:
  • Sheen Co. manufacturers laser printers. It has outlined the following overhead cost drivers: Overhead Costs Pool Cost Driver Ove
    9·1 answer
  • If a city is considering building a new city office complex, it may appoint a(n) to research possible locations for the offices
    10·1 answer
  • Universal containers wants to manage their sales territories in salesforce. what questions should be asked to determine if terri
    7·1 answer
  • ABC Company is unloading coal from a barge on the Mississippi River. The barge contains 1,760 tons of coal. The coal is shoveled
    13·1 answer
  • Which of the following is an accurate statement regarding international trade? A. Sometimes, one nation has an absolute advantag
    10·1 answer
  • You sell 10 cups of lemonade for 1.50 each. You spent $5.00 on lemons and $1.00 for a bag of ice. What is your profit or loss?
    14·2 answers
  • Net exports equal
    9·1 answer
  • Luxton Ltd. signed a $378,000, 5-year note payable to buy a new machine. Luxton paid $6,000 cash for transportation of the machi
    9·1 answer
  • What is the title of the Access form shown above? frmBasic tblRetailer 0001 Spice World
    9·1 answer
  • A corporate charter: Multiple select question. names the board of directors. specifies the number of shares outstanding. is requ
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!