Answer:
Explanation:
I think your question is missed of key information, allow me to attach the photo question below.
The quantity demanded is 30 units when the price is 60, we use the reconciliation method on the demand line.
If the selling price per unit is $66, variable expenses per unit are $41, target operating income is $31,000, and total fixed
1 answer:
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Answer: $15,909.09
Explanation:
Nominal GDP is the value of goods and services that is calculated on the basis of current year prices whereas Real GDP is the value of goods and services that is determined on the basis of Base year prices. If we are using the identical price for both the years for calculating GDP then we can see the increment in the current year GDP from the last year. This means that the quantity of goods produced in the current year is larger than the last year. That's why it is important to use Real GDP rather than Nominal GDP.
Given that,
Nominal GDP (millions of dollars) = $14000
Price level (GDP deflator) = 88
Real GDP = 159.09 × 100
= $15,909.09
Hence, Real GDP = $15,909.09.
Therefore, Real GDP is greater than Nominal GDP hence we can say that the amount of good produced is worth more than $14,000.