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Lynna [10]
3 years ago
15

Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of shampoo, and 3 jars of peanut but

ter. In year 2, the output mix changes to 5 quarts of ice cream, 2 bottles of shampoo, and 2 jars of peanut butter. If the prices in both years are $4 per quart for ice cream, $3 per bottle of shampoo, and $2 per jar of peanut butter, what was the economy's GDP in year 1? What was its GDP in year 2?
Business
1 answer:
My name is Ann [436]3 years ago
6 0

Answer:

$21

$30

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP in year 1 = (3 × $4) + (1 ×$3 ) + (3 x $2) =$21

GDP in year 2 = ( 5 x $4) + (2 x$3 ) + (2 x $2) = $30

I hope my answer helps you

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Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and
Leni [432]

Answer: Please find answers in explanation column

Explanation:

To record flow of cost of raw materials

     Account                                               Debit           Credit  

1) Work in process-Refining department $385,000  

            Raw           Materials                                            $385,000

To record flow of  labour cost

Account                                                         Debit           Credit  

2) Work in process-Refining department    $143,000  

          Wages payable                                $143,000

To record applied factory overhead

Account                                                           Debit           Credit  

3) Work in process-Refining department    $99,000  

factory overhead-refining department                             $99,000  

Entry to record the transfer of production costs to the second department, Sifting.

Account                                                    Debit           Credit  

4) Work in process-Sifting department $626,800  

Work in process-Refining department                           $626,800

calculation

Beginning work in process +   raw material + wages payable + factory overhead - ending work in process

$29,600 + $385,000+ $143,000 +$99,000 - $29,800   =$626,800

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Any comparison of the advantages of one family structure over another depends partly on the parents and partly on the:
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A buyer is interested in buying a home in an older neighborhood where new sidewalks have just been installed. The buyer contacts
rusak2 [61]

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<h3>Who is a house agent?</h3>

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The agent here has to tell the buyer that the reason for these taxes is the fact that there are other levies on the property.

Read more on house agents here:brainly.com/question/13957036

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Ok ill teach ya then

Explanation:

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