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JulijaS [17]
3 years ago
9

Suppose the total monetary value of all final goods and services produced in a particular country in 2015 is $500 billion and th

e total monetary value of final goods and services sold is $450 billion.
We can conclude that:

A. GDP in 2015 is $450 billion
B. NDP in 2015 is $450 billion.
C. GDP in 2015 is $500 billion.
D. Inventories in 2015 fell by $50 billion.
Business
1 answer:
skelet666 [1.2K]3 years ago
8 0

Answer:

C. GDP in 2015 is $500 billion.

Explanation:GDP(GROSS DOMESTIC PRODUCT) is a macroeconomic measure that is used to describe the total monetary value of the goods and services rendered within an economy in a given period of time usually annually.

IT IS GENERALLY BELIEVED THAT THE HIGHER THE GROSS DOMESTIC PRODUCT (GDP) IN AN ECONOMY SIGNIFIES THAT THE ECONOMY IS EFFICIENT IN MANAGING ITS PRODUCTIVE RESOURCES AND THE PRODUCTIVITY OF THE ECONOMY IS HIGH.

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Your daughter will start college one year from today, at which time the first tuition payment of \$58,000$58,000 must be made. A
Ierofanga [76]

Answer: I'll need $2,14,309.02 in my savings account in order to make tuition payments over the next four years.

We follow these steps in order to arrive at the answer:

In this question, we need to take into account that we need to pay 35% as taxes on interest earned.

So even though the interest rate on the deposit is 5%, only 1 - 35% = 65% will be available for use.

Hence, effectively the deposit will only earn 0.05*0.65 = 0.0325\\ or 3.25% interest after taxes.

We'll compute the the Present Value of the annuity of 58,000 for four years at 3.25% interest in order to determine the amount that is needed today.

The Present Value of an Annuity formula is

\mathbf{PV_{Annuity}= PMT\left ( \frac{1 -(1+r)^{-n}}{r} \right )}

Substituting the values in the equation above we get,

PV_{Annuity}= 58,000\left (\frac{1 -(1.0325)^{-4}}{0.0325} \right )

PV_{Annuity}= 58,000\left (\frac{ 0.12008695 }{0.0325} \right )

\mathbf{PV_{Annuity}= 58,000 * 3.69 = 2,14,309.02}

3 0
3 years ago
On December 31, 2016, Ditka Inc. had Retained Earnings of $270,800 before its closing entries were prepared and posted. During 2
Nat2105 [25]

Answer:

<u>Required a</u>

Closing Retained Earnings Balance

Retained Earnings $270,800 (debit)

Statement of Changes in Shareholders Equity $270,800 (credit)

<u>Required b</u>

Closing Service Revenue Balance

Sales Revenue $171,100 (debit)

Statement of Profit and Loss $171,100 (credit)

Closing Interest Revenue Balance

Interest Revenue $82,800 (debit)

Statement of Profit and Loss $82,800 (credit)

Closing Supplies Expenses Account

Statement of Profit and Loss $89,400 (debit)

Supplies Expenses $89,400 (debit)

Closing Supplies advertising expenses

Statement of Profit and Loss $16,700 (debit)

Advertising expenses $16,700 (debit)

Closing Supplies salaries and wages expenses

Statement of Profit and Loss $18,750 (debit)

Salaries and wages expenses $18,750 (debit)

Closing income tax expenses

Statement of Profit and Loss $14,300 (debit)

income tax expenses $14,300 (debit)

<u>Required c</u>

Closing the dividend Account

Dividend $6,300 (debit)

Retained Earnings Statement $6,300 (credit)

Explanation:

Revenues and Expenses are Closed off to the Statement of Profit and Loss.

Dividends are Closed off to the Retained Income Statement.

Adjusting Supplies Account

Supplies Expenses $89,400 (debit)

Supplies Account $89,400 (credit)

Adjusting dividend Account

Dividend $6,300 (debit)

Cash $6,300 (credit)

3 0
3 years ago
Explain the following statement and answer to corresponding question. It is worth 15 points. "In a competitive model without con
Vaselesa [24]

Answer:

In marketing, price discrimination refers to selling the same product to different buyers at different prices depending on each buyer's purchasing power or preferences which result in them being able and willing to pay different prices. E.g. a movie theater that charges different prices depending on the age of the movie goers.

In this case, the fact that a factory is located far away from your house might result in a higher price due to delivery costs, but that doesn't meant that it is using price discrimination. E.g. I just purchased a new refrigerator online and I had to pay a delivery fee that increased its price because the seller is from another state. I purchased the refrigerator from that retailer because it lower prices including delivery costs, but someone that purchased it from the same city will probably pay even less than me. But it is just logistics, since I live far away I have to wait 3 days for delivery and pay for it.

8 0
3 years ago
A potential obligation that depends on the future outcome of past events is a contingent liability. true false
stiks02 [169]

Answer:

TRUE

Explanation:

A potential obligation that depends on the future outcome of past events is a contingent liability!

- An obligation is something that is to be done

- A potential obligation is a thing or activity that is among the options of stuff that can be done

- When something depends on the future outcome of past events, it introduces or carries with it, the cost of waiting (for future outcomes)

- A contingent liability is something that poses probability of loss instead of gain. The opposite of liability is asset.

So in business, a potential obligation or action that depends on the future outcome of past events is a contingent loss rather than gain.

3 0
3 years ago
What should you expect to get from your insurance company in exchange for your premium?
Sergeu [11.5K]

Answer:

see below

Explanation:

Premiums are the regular payments the insured pays to the insurance company for insurance coverage. By paying premiums, the insurance company agrees to compensate the insured for any financial loss resulting from the risk covered by the insurance contract.

Premiums are the cost of insurance.  The customer pays premiums while the insurances undertake the risk stated in the policy documents. Should the customer suffer damages, injuries, or financial loss, the insurance companies compensate the customer as per the terms stated in the insurance contract.

5 0
2 years ago
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