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irga5000 [103]
3 years ago
8

A country produces only one good. It produced​ 5,000 units of the good during Year 1 and​ 6,000 units of the good in Year 2. The

price of each unit of the good in Year 1 was​ $280 and it was​ $320 in Year 2. Suppose Year 1 is taken as the base year for the calculation of GDP. The nominal GDP of the country for Year 2 was:______.A) $1, 920,000 B) $2, 510,000 C) $174,000 D) $180,000
Business
1 answer:
Veseljchak [2.6K]3 years ago
3 0

Answer:

.A) $1, 920,000

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is the GDP of country using current year prices

Nominal GDP = current year price × quantity

(6000 × 320) = $1,920,000

I hope my answer helps you

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A limited liability company (LLC) will be taxed as a corporation unless it elects to be taxed as a partnership. True False
hichkok12 [17]

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True

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6 0
3 years ago
Your uncle has $500,000 and wants to retire. He expects to live for another 30 years and to earn 6.5% on his invested funds. How
Andrei [34K]

Answer:

$38, 288.718

Explanation:

The amount to be withdrawn at the end of each year, for  30 years

The amount of $500,000 represents the present value while yearly withdraws the annuities.

We use a revised formula for calculating annuities.

Applicable formula is

P   = PV × r/( 1 − (1+r)−n

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PV  = $500,000

r = 6.5%

n 30

P = 500,000 x( 0.065/ ( 1- (1 + 0.065) -30)}

p = 500,000 x (0.065/ (1-1+.065)-30)

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P =500,000 x (0.065 /0.848814)

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3 0
3 years ago
A comparable sold ten months ago for $350,000. Appraiser Andy concludes that property values have increased by 5% per year. What
astraxan [27]

The adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.

<h3>Data and Calculations:</h3>

Value of property 10 months ago = $350,000

Increase in property values = 5%

Adjustment in property = $17,500  ($350,000 x 5%)

<h3>What is adjustment in property value?</h3>

This is the change in the value of property as a result of an increase or decrease in the values of comparable properties within the locality.

Thus, the adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.

Learn more about adjustment in property values here: brainly.com/question/15397430 and brainly.com/question/7142333

7 0
2 years ago
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