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TEA [102]
3 years ago
5

Suppose that, during 2012, nominal GDP was $10,082 billion. During 2012, the value of the Consumer Price Index was 177.1 (using

1999 as the base year). Estimate the real GDP for 2012.
Business
2 answers:
givi [52]3 years ago
8 0

Answer: Real GDP for 2012 is $5,692.83 billion

Explanation: Real GDP is a measure of the output of goods and services in an economy taking into consideration prices changes (inflation and deflation). Real GDP is calculated usinf prices of a base year not current prices.

Real GDP = Nominal GDP/CPI × 100

= $10,082 billion/ 177.1 × 100

= $5,692.83 billion

erma4kov [3.2K]3 years ago
5 0

<em>Answer</em>:

<u>5,692.83</u> 3.

Explanation:

($10,082 billion/177.1) x 100 = 5,692.83

Remember the real GDP takes into account the value of the total number of goods and services produced by a country in a given year, while taking the effect of inflation into account.

Because of inflation the consumer price index data is used in the calculation to find the change or deflation that has occurred.

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3 years ago
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qaws [65]

Answer:

C. optimal capital labor ratio remains the same

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Thus, optimal capital labor ratio remains same because capital (planes) and labor (pilots) are used in fixed proportion.

Thus the answer is

C. optimal capital labor ratio remains the same

5 0
3 years ago
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tino4ka555 [31]

<u>Answer:</u>

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3 0
3 years ago
While harry was intoxicated, he sold his car to ben for substantially less than its fair market value. this contract is consider
VMariaS [17]
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7 0
3 years ago
the difference between the actual quanity and the standard quanity, multiplied by the standard price is the
dalvyx [7]

Answer: Direct materials quantity variance.

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