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Sedaia [141]
3 years ago
15

Suppose that real GDP equals $10 trillion, nominal GDP equals $20 trillion, and the aggregate price level equals 2.

Business
1 answer:
Archy [21]3 years ago
4 0

Answer:

b) $10 trillion

Explanation:

Price level = NGDP / RGDP = 2

NGDP / RGDP = 2

As per the quantity theory of money,

MV = PQ

M.(2) = 20

M = 10 trillion

Therefore, The  money supply is $10 trillion.

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An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400
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Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

=  ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

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Therefore for computing the net pay we simply applied the above formula.

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Learn more about operating cash flow (OCF) here

brainly.com/question/735261

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2 years ago
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