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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

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Answer: Option D

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4 years ago
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Answer:

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Basically, it comprises of millions of literary works such as manuscripts, books, photographs, maps, recordings, newspapers in its collection and as a result of this, it is known to be the largest library in the world.

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3 years ago
Faucet Company reported the following information for 2008: October November December Budgeted sales $620,000 $580,000 $720,000
max2010maxim [7]

Answer:

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Explanation:

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8 0
2 years ago
Jasper is a self-employed businessman. on march 5, 2015 he purchases a personal computer for use at his home. he uses the comput
g100num [7]
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