The nominal GDP in that year will be $4018 billion.
<h3>
What is Nominal GDP?</h3>
- Nominal gross domestic product is GDP calculated using the most recent market prices. GDP measures the monetary worth of all the goods and services a nation produces. Nominal GDP differs from real GDP in that it considers inflation, which represents how quickly prices are rising in an economy.
- The monetary worth of the products and services produced is the standard way to calculate GDP.
- Nominal GDP can overstate the growth rate because it does not account for the rate of price increases when comparing one period to another.
- Growing pricing rather than increasing the number of goods and services produced may cause nominal GDP growth from year to year.
- Nominal GDP is the starting point, whereas real GDP includes price changes.
we know that
Nominal GDP = Real GDP × Price index
Nominal GDP = $3668 × .112
Nominal GDP = $4018
hence, the nominal GDP in that year will be $4018 billion.
To learn more about Nominal GDP with the given link
brainly.com/question/15171681
#SPJ4
The average compound return earned per year over a multi-year period is known as the geometric average return.
<h3>What is an Average Return?</h3>
An average return is a mathematical average value of a number of returns generated over a specific period of time. An average return helps in measuring the past performance or portfolio of an individual or government.
When an average compound return is earned per year over a multi-year period, then it is known as the geometric return of that individual or government.
Learn more about an Average Return here:
brainly.com/question/16857172
#SPJ12
Answer:
the answer is They are seeking Economic <u>Value</u>.
Explanation:
In a marketing context, customers seek a fair return in goods and/or services for their hard-earned money and scarce time. They are seeking <u>value</u>, which reflects the relationship of benefits to costs, or what you get for what you give.
Value is variable, lets zero in on Economic Value since the subject is effective demand from a customer.
Economic Value is the worth or benefit derived from a product or service paid for. It could be comfort, pleasure, satisfaction, relief from pain, etc.
It is directly proportional to the amount paid for. Therefore, greater value attracts higher cost and vice versa.
Answer:
C because Perishability is used in marketing to describe the way in which service cannot be stored for sale in the future
