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poizon [28]
3 years ago
12

The following are national income account data for a hypothetical economy g in billions of dollars: government purchases ($1,050

), personal consumption expenditures ($4,800), imports ($370), exports ($240), and gross private domestic investment ($1,130). What is GDP for this economy
Business
1 answer:
kirill115 [55]3 years ago
5 0

Answer:

the GDP is $6,850 billion

Explanation:

The computation of the GDP for this economy is as follows:

GDP = Personal consumption expenditure + Government purchases + Gross private domestic investment + Exports- imports

= $4,800 + $1,050 + $1,130 + $240 - $370

= $6,850

hence, the GDP is $6,850 billion

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The introduction of a union into an industry
Lemur [1.5K]

Answer:

Option A (Raises wages and employment in that industry)

Explanation:

A union is a group of people from a specific profession that protests/voices their opinions, concerns, and/or matters that they think are necessary for them to stay in that specific profession.

Labor unions give workers the power to negotiate for more favorable working conditions and other benefits through collective bargaining. Union members earn better wages and benefits than workers who aren't union members. On average, union workers' wages are 28 percent higher than their nonunion counterparts.

5 0
2 years ago
Ethan's Eggroll House, a calendar year corporation, purchased a new computer and printer in January for $1,500. In February, the
eduard

Answer: The answer is D $300 computer, $240 oven

Explanation:

According to IRS tables on the calculation of depreciation on computer and oven, it is estimated that an asset such as computer will have a depreciation useful life of 5 years

Therefore since computer cost and printer = $1,500, useful life = 5 year

Cost ÷ useful life

= 1,500 ÷ 5

= $300

For oven since the cost =$1,200, useful life = 5years

Cost ÷ useful life

= 1,200 ÷ 5

= $240

6 0
3 years ago
When the Toyota Prius first entered the marketplace, dealers kept waiting lists of people wanting one and the factories had to r
Finger [1]

Answer:

The correct answer is True.

Explanation:

The demand for a product in the market produces a demand derived from the raw materials necessary for its production. For example, when the demand for cars rises, the demand derived from auto parts also increases; and increasing the production of auto parts increases the demand derived from steel.

6 0
3 years ago
Larry is a hard-working college freshman. One Saturday, he decides to work nonstop until he has answered 200 practice problems f
OverLord2011 [107]

Answer:

  • The marginal gain from Larry's second hour of work is 60 problems
  • The marginal gain from Larry's fourth hour of work is 20 problems
  • The best combination is 1 hour of working problems + 3 hours of reading

Explanation:

To get the <em><u>marginal gain</u></em> we subtract from the latest hour, in this case the second hour (140), the production from the previous hour (80). 140-80=60. <em>It's always the same, the latest minus the previous one.</em>

So let's do the same for the fourth hour:

Noon................200 problems

minus

11:00 AM..........180 problems

200-180= 20 problems

Now to know how many hours he should spend working on problems and reading, let's compare:

An hour of reading equals to 70 problems made; (because working on 70 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour).

hours of working problems         problems solved

0............................................................0

1.............................................................80

2............................................................140

3............................................................180

hours reading                    problems equivalent to hours read

4...............................................(4*70)=280

3...............................................(3*70)=210

2...............................................(2*70)=140

1................................................(1*70)=70

finally let's add up the two combinations (0 and 4, 1 and 3, 2 and 2, 3 and 1)

0 and 4_______________0+280= 280

1 and 3________________80+210=290

2 and 2_______________140+140=280

3 and 1________________180+70=250

<em>And the best combination is 1 hour of working problems + 3 hours of reading=</em><em>290</em>

3 0
3 years ago
Suppose that after hurricane​ Irene, the average income in Cape​ Charles, Virginia decreased by 16 percent. In response to this
SIZIF [17.4K]

Answer:

0.875

Explanation:

The income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

14% / 16% = 0.875

Demand is inelastic because the coefficient of elasticity is less than one.

I hope my answer helps you

3 0
3 years ago
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