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Elena-2011 [213]
3 years ago
11

Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year

prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E. Base-year prices are $1 for each good. Real GDP in the current year equals _________ and GDP equals _________.
Business
1 answer:
ella [17]3 years ago
7 0

Answer:

The real GDP is $150 and GDP is $550

Explanation:

There are five goods in the economy, A-E.

The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E.

Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E.

Base-year prices are $1 for each good.

The real GDP is the value of output produced at base year price.

Real GDP

= 10 +20 + 30 + 40 + 50

= $150

The nominal GDP is the value of output produced at the current prices.

Nominal GDP

= 1 × 10 + 2 × 20 + 3 × 30 + 4 × 40 + 5 × 50

= 10 + 40 + 90 + 160 + 250

= $550

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Madison Corporation sells three products (M, N, and O) in the following sales mix: 3:1:2. Unit price and cost data are: M N O Un
damaskus [11]

Answer:

Products    Selling price   Unit variable cost   Contribution per unit

                        $                           $                             $

M                      7                           3                             4

N                       6                          2                             4

O                       6                          3                             3

                        19                          8                            11

Break-even point in composite units

= <u>Total fixed cost</u>

  Contribution per unit

= <u>$340,000</u>

         $11

= 30,909 units

Break-even point for the current sales mix

M    3/6 x 30,909 units = 15,455 units

N     1/6 x 30,909 units = 5,151 units

O     2/6 x 30,909 units = 10,303 units

Explanation:

In this case, we need to calculate contribution per unit of each product by deducting the unit variable cost of each product from their respective selling prices. Then, we will obtain the break-even point in composite units by dividing the total fixed cost by overall contribution per unit.

Then, we will determine the break-even point for the current sales mix by multiplying the proportion of each product in the sales mix by the break-even point in composite units.

8 0
3 years ago
Consider the wealth effect, interest rate effect, and international trade effect. Of these, the ________ effect is the most sign
Grace [21]

Consider the wealth effect, interest rate effect, and international trade effect. Of these, the wealth effect is the most significant and the international effect is the least significant.

<h3>What is the wealth effect?</h3>

This is the theory that states that people spend more money on commodities as they experience an increase in their wages.

<h3>What is the international effect?</h3>

This is the theory that the given differences that exist in nominal interest rate of countries is useful for prediction of changes in interest rate.

Read more on wealth effect here; brainly.com/question/26960365

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2 years ago
How do pharmacies implement lean operations to ensure that customers will always receive their medications upon​ demand?
oksian1 [2.3K]

Answer:

The answer is letter A.

Explanation:

They develop community networks as backup systems.

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In the résumé above, what would cause appearance of the "00000000000"?
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Answer:

an error

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On December 31, 2020, Windsor Company had $1,198,000 of short-term debt in the form of notes payable due February 2, 2021. On Ja
emmasim [6.3K]

Answer and Explanation:

The balance sheet is shown below:-

The computation of note payable is below:-

Notes Payable = $1,198,000 - $649,600

= $548,400

Total notes payable by the company are$1,198,000, of which $649,600 is common stock issue and $548,400 is cash liquidate.

                       Windsor Company

                     Partial Balance sheet

                       December 31, 2020

Particulars              Amount

Current Liabilities:

Notes Payable             $548,400

Long term Debt:  

Notes Payable            $649,600

6 0
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