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3 years ago

Item 3 What do economists call GDP that uses constant, unchanging prices? constant GDP real GDP nominal GDP factual GDP

Business

1 answer:

Ivenika [448]3 years ago

7 0

Economists call GDP that uses constant, unchanging prices as

Explanation:

Real gross domestic product (real GDP for short) is a macroeconomic measure of the value of economic output adjusted for price changes . This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output.
It is calculated using the prices of a selected base year. To calculate Real GDP, you must determine how much GDP has been changed by inflation since the base year, and divide out the inflation each year.
Real GDP accounts for the fact that if prices change but output doesn't, nominal GDP would change.
The real economic growth, or real GDP growth rate, measures economic growth as it relates to the gross domestic product (GDP) from one period to another, adjusted for inflation, and expressed in real terms as opposed to nominal terms

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Petra, Inc. has collected the following data. (There are no beginning inventories.): Units produced 580 units Units sold 580 u

Debora [2.8K]

Answer:

Operating income is $28,197.2

Explanation:

In order to calculate operating income, first we have to calculate total product cost per unit which is calculated as shown below:

Direct material per unit = $30

Direct labor = $35

Variable manufacturing overhead per unit = $10

Fixed manufacturing overhead per unit = 23,000 ÷ 580 = $39.66 per unit

Product cost per unit = 30 + 35 + 10 + 39.66 = $114.66

Now compute operating income as shown below:

Total sales = Per unit sales price × Units sold

= $230 × 580

= $133,400

Cost of goods sold = Units produced × product cost per unit

= 580 × 114.66

= $66,502.8

Gross profit = Sales - COGS

= 113,400 - 66,502.8

= $46,897.2

Fixed selling and administrative cost = $10,000

Variable selling and administrative cost = 15 × 580 = $8,700

Total selling and administrative cost = 10,000 + 8,700 = $18,700

Operating income = Gross profit - total selling and administrative cost

= $46,897.2 - 18,700

= $28,197.20

7 0

3 years ago

A professor at a university finds a way to reduce the costs of producing automobile glass. The method is very easy for anyone to

Dafna1 [17]

Answer:

b) the method to reduce costs of producing automobile glass, but not the formula for the substance that prevents smudging.

Explanation:

As provided, the professor develops a way which shall reduce the cost of producing the automobile glass, which apparently is very easy for anyone to copy and use.

Whereas, when a company develops the formula which creates a substance that prevents the automobile glass from getting smudged is again a technological knowledge although not that common.

Since the first one is apparently easy and other is patented which means both are common else not so common idea will not need patent as people would not be able to create such formula.

8 0

3 years ago

Suppose the monopolist is thinking about charging men a 10% higher price. if the monopolist does so, the quantity demanded by me

vovikov84 [41]

It would not fall at all. Monopolists own the entire industry meaning the consumers have no alternatives. If they have no alternative they have no choice but to buy even if the price increases

5 0

3 years ago

What explanation might an economist provide why some people overeat when such behavior can lead to health consequences? Some pe

LiRa [457]

Answer:

Utility overvalued

Explanation:

According to economists, such people over value the utility they are meant to get in the future. They only want to get the entire satisfaction at a go because of the fear of not getting that food again in the nearest future.

3 0

3 years ago

Zoum Corporation had the following transactions during the year: Issued $250,000 of par value common stock for cash. Recorded an

ANTONII [103]

Answer:

-$210,000

Explanation:

Issued Common Stock at par for Cash $250,000

Less:

Declared and paid a cash dividend $20,000

Repayment of 6-year note payable $440,000

Net Cash provided by Financing Activities ($210,000)

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3 years ago