The generally accepted accounting principles of the United States
Answer: $15,909.09
Explanation:
Nominal GDP is the value of goods and services that is calculated on the basis of current year prices whereas Real GDP is the value of goods and services that is determined on the basis of Base year prices. If we are using the identical price for both the years for calculating GDP then we can see the increment in the current year GDP from the last year. This means that the quantity of goods produced in the current year is larger than the last year. That's why it is important to use Real GDP rather than Nominal GDP.
Given that,
Nominal GDP (millions of dollars) = $14000
Price level (GDP deflator) = 88


Real GDP = 159.09 × 100
= $15,909.09
Hence, Real GDP = $15,909.09.
Therefore, Real GDP is greater than Nominal GDP hence we can say that the amount of good produced is worth more than $14,000.
Answer:
true
Explanation:
employees play a significant role in the success of a service based business because they build an atmosphere of trust , confidence and loyalty among the customer by interacting with the customer while the service is being provided.
The price of the water needs to be raised by 40% when the consumption of water reduces by 10% and the price elasticity of demand results to 25%.
<h3>What is meant by the price of elasticity of demand?</h3>
The price elasticity of demand is determined as the proportionate variation in quantity with respect to variation in the price of a good.
Given values:
Change in water consumption (fall): 10%
Price elasticity of demand: 25%
Computation of percentage change in the price of water:

Therefore, there is an increase in water price by 40%.
Learn more about the price elasticity of demand here:
brainly.com/question/15010897
#SPJ1