Answer:
$1900 million
Explanation:
The formula for GDP :
Y(GDP)= Investment spending + Consumer expenditure + Government expenditure + Imports - Exports
if we input the numbers from our example we can find out the calculation of GDP as so:
GDP = $500 million + $1000 million + $500 million - $100 million
∴ GDP = $1900 million
Answer:
When an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.
Explanation:
According to the Keynesian perspective, firms produce output only if they expect it to sell.
While the availability of the factors of production determines a nation’s potential gross domestic product (GDP), the amount of goods and services actually being sold, known as real GDP depends on how much demand exists across the economy.
Keynes termed a fall in the aggregate demand as a recessionary gap.
A recessionary gap refers to an economy operating at a level below its full-employment equilibrium. Under this condition, the level of real gross domestic product (GDP) is lower than the level of full employment, which puts downward pressure on prices in the long run.
Thus, when an economy produces at full employment, but consumers, government, there is a recessionary gap - Option B.
Answer:
B. A contra liability
Explanation:
A contra liability account is an account that is paired with another liability account and used to reduce the liability in that account. The Discount on Bonds Payable, decreases the Value of Bonds.
Prior to 1914, the caveat emptor let the buyer beware was the name of the game for consumers.
<h3>What is
Caveat Emptor?</h3>
- The phrase "caveat emptor" has gained renown in English. The contract law principle known as caveat emptor often governs the sale of real estate after the date of closure, though it may also apply to the sale of other types of products.
- Because purchasers frequently know less about the product or service they are buying than the seller, the phrase "caveat emptor" and its use as a disclaimer of warranties are a result.
- This characteristic of the circumstance is referred to as "information imbalance." Defects in the product or service might only be known to the seller and concealed from the buyer.
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