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8090 [49]
2 years ago
10

Real GDP refers to _____. rev: 04_09_2018 Multiple Choice GDP data that embodies changes in the price level but not changes in p

hysical output GDP data that does not reflect changes in both physical output and the price level GDP data that has been adjusted for changes in the price level the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income
Business
1 answer:
pochemuha2 years ago
5 0

Answer: GDP data that has been adjusted for changes in the price level

Explanation:

Real GDP refers to the Nominal GDP adjusted for inflation. Nominal GDP calculates the value of final goods and services in the Economy by using the price levels of that year so if inflation has occurred, comparing it to previous years would be inaccurate.  

The Real GDP would use the price levels of a base year to calculate the GDP of the current year so that the effect of inflation may be negated and the real growth of the economy can be seen.

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3 years ago
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question content area for the year ended december 31, orion, inc. mistakenly omitted adjusting entries for $1,500 of supplies th
Oduvanchick [21]

Errors will have a $2,300 overstatement of net income on revenues, costs, and net income.

The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income. Net income in the company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.

Net income = Total revenue - total expenses

where,

Total revenue = Unearned revenue = $4,200

Total Expense = Supplies expense + insurance expense = $1,500 + $5,000 = $6,500

Net Income = Total revenue - Total Expenses = $4,200 - $6,500

Net Income = -$2,300

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6 0
11 months ago
An individual who buys goods and services to satisfy unlimited wants and needs would fall into which category in the circular fl
hram777 [196]
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3 0
3 years ago
Which of the following statements is true of process​ costing? A. It tracks and assigns both period costs and product costs to u
Dahasolnce [82]

Answer:

B) It accumulates product costs by production departments.

Explanation:

Process cost is used to ascertain the cost of a product at all stages of production. Total cost is an addition of all the individual process costs. Usually this is used in companies that produce homogeneous goods.

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7 0
3 years ago
Tater and Pepper Corp. reported free cash flows for 2018 of $58.1 million and investment in operating capital of $41.1 million.
DENIUS [597]

Answer:

104.6 million

Explanation:

Data provided in the question:

Free cash flows for 2018 = $58.1 million

Investment in operating capital = $41.1 million

Depreciation expense = $15.5

Taxes on EBIT in 2018 = $20.9 million

Now,

EBIT

= Free Cash Flow + Investment in operating capital + Taxes - Depreciation

on substituting the respective values, we get

EBIT = $58.1 million + $41.1 million + $20.9 million - $15.5

or

EBIT = 104.6 million

8 0
3 years ago
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