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Evgen [1.6K]
3 years ago
11

Consider the following information about a simple country that produces two different goods: Year PriceMilk QuantityMilk Price C

ereal Quantity Cereal 2014 $4 100 $5 120 2015 $4.50 150 $5.50 180 2016 $5 200 $6.00 250 Nominal GDP in 2014 was $ ___________ . Nominal GDP in 2015 was $ ____________. Nominal GDP in 2016 was $ ____________. Enter numbers rounded to two decimal places as necessary. Assume the base year was 2014.
Business
1 answer:
Tema [17]3 years ago
7 0

Answer:

Nominal GDP in 2014 was $1000

Nominal GDP in 2015 was $1665

Nominal GDP in 2016 was $2500

Explanation:

Nominal GDP is the market value of goods and services produced in an economy, un-adjusted for inflation.

NGDP= Q x P

Where

Q= quantity

P= price

Nominal GDP in 2014

NGDP(2014)=$4x 100+ $5 x120

NGDP(2014)=$1000

Nominal GDP in 2015

NGDP(2015)= $4.50x 150+ $5.50x 180

NGDP(2015)=$1665

Nominal GDP in 2016

NGDP(2016)= $5x 200 +$6.00x 250

NGDP(2016)= $2500

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Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.
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Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

                                                                       $ millions

Accounts receivable-trade                              699

Building and equipment                                  930

Cash-checking                                                   40

Interest receivable                                             34

Inventory                                                            25

Land                                                                  166

Notes receivable (long-term)                         484

Petty cash fund                                                   7

Prepaid rent                                                      28

Supplies                                                              8

Trademark                                                        49

Accumulated depreciation                             (75)

Allowance for uncollectible accounts            (18)

Total Assets                                                  2,377

3 0
3 years ago
Pursuant to a contract, a landscaper performed $30,000 of landscape work for a homeowner. By coincidence, the homeowner and the
vfiekz [6]

Answer:

NO, court does not have subject matter jurisdiction over the landscaper's contract claim

Explanation:

given data

landscape work =  $30,000

seeking  in damages = $100,000

solution

landscaper assert and maintain claim against an home owner for breach of contract is no because court have diversity of an citizenship in the jurisdiction over an home owner for negligence claims .  

we know that Federal Rule of Civil Procedure permit only counter claims and  federal court have not any subject matter jurisdiction over an landscaper contract claims

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3 years ago
If the fed decreases the reserve requirement, financial institutions will likely lend out ______________ than before, __________
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<span>more
increasing 

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4 0
3 years ago
________ enables a manager to make decisions, give orders, and utilize resources. For example, the manager of a local coffee sho
lesantik [10]

Answer:

Authority

Explanation:

A manager as the following authorties

Entrusted with a leadership role, a manager is responsible for overseeing a department or group of employees within a specific organisation or company. Managers are utilised in every sector, and the business model relies on their leadership and ability to operationalise the management structure

4 0
3 years ago
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FedEx Corporation (FDX) had the following revenue and expense account balances (in millions) for a recent year ending May 31:
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Answer and Explanation:

The preparation of the income statement is presented below:

Revenue $26,300

Expenses:  

Depreciation expense $985  

Fuel expense $3,438

Maintenance and repairs expense $1,675

Other expense(income) net $5,319

Provision for Income taxes $857

Purchased Transportation $1,281

Rentals and Landing fees $1,862

Salaries and Employee benefits $9,387  

Net income $1,496

4 0
3 years ago
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