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
FromTheMoon [43]
3 years ago
12

The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investm

ent ($320), imports ($35), exports ($22), personal consumption expenditures ($2,460), and government purchases ($470). What is GDP in this economy?
A) $3,250 billionB) $3,263 billionC) $3,237 billionD) $3,290 billion
Business
1 answer:
iren [92.7K]3 years ago
3 0

Answer:

C

Explanation:

GDP (Gross-domestic-product) is the total market value or monetary value of all goods and services produced in a country during an specific period of time (normally: 1 year). There are three methods by which GDP can be calculated: by expenditure , by income and by production. Acoording to the information given by the problem we should use the expenditure formula:

GDP= C+I+G+NX

C=Consumption

I= Investment

G= Governmet expenditures

NX= Net exports (Exports-Imports)

In this case:

GDP= $2,460+$320+$470+($22-$35)= $3,327 billion

You might be interested in
which of the following is not one of the six functional areas of business that sits on a foundation of business law?
mina [271]

Answer:

state and federal taxation

Explanation:

8 0
2 years ago
Acellus Businesses management
Kobotan [32]
Here is the answer

https://www.science.edu/Acellus/curriculum/career-technical-education-courses/lesson-lists/Business%20Management%20Curriculum.pdf
7 0
3 years ago
Which of the following are in accordance with IFRS? Cash basis accounting Both accrual basis and cash basis accounting Neither a
Anton [14]

Answer:

Accrual basis accounting

Explanation:

Under Accrual basis of accounting, income is recognized when it is earned and not when actual cash is paid or received.

Under cash basis of accounting, income is only recognized when actual cash is received.

Accrual basis of accounting ensures transactions pertaining to a period are recorded in that period and  it depicts more accurate financial picture unlike in cash accounting wherein income for a period might be overstated or understated.

Following cash basis of accounting is not in accord with both US GAAPs (generally accepted accounting principles) and IFRS.

7 0
4 years ago
Define ATS and describe its use.. Why would large companies<br> use an ATS ?
elena55 [62]

Answer:

An applicant tracking system (ATS) is a human resources software that acts as a database for job applicants.

7 0
2 years ago
Business ____ is an overview that describes a company's overall functions, processes, organization, products, services, customer
nirvana33 [79]

Answer: Business profile

Explanation:

Business profile is referred to as or known as the profile that is designed in order to have an overview of the organization, business and their business plan. It tends to provide the readers with quick overview of the business, also including the values and the objectives, so as they tend to get the immediate feel of what they are doing and where they are headed.

7 0
3 years ago
Other questions:
  • The simple objective of financial planning is to make the best use of your resources to achieve your financial goals.
    13·1 answer
  • The hyattsville country club requires that an applicant's grandfather be a member of the club in order to qualify for membership
    11·1 answer
  • An interior solution to a consumer's utility maximization problem implies which of the following:A. consuming optimal amounts of
    11·1 answer
  • A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm ____
    5·1 answer
  • Savings account A and savings account B both offer APRs of 2%, but savings account A compounds interest quarterly, while savings
    12·2 answers
  • What is the concept that people may decide what and when they want to buy and sell called?
    6·2 answers
  • A Cajun trinity, used in many Louisiana Creole and Cajun dishes such as gumbo, contains
    14·1 answer
  • Maria Queen was reviewing her business activities at the end of the year (2022) and decided to prepare a Retained Earnings State
    7·1 answer
  • An organization's _____ can pay attention to, measure, and control a number of activities, processes,or outcomes in order to fos
    10·1 answer
  • How was the halftime show yesterday
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!