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andrezito [222]
3 years ago
9

. Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 4 bars and the price is $4. In year

2, the quantity produced is 5 bars and the price is $5. In year 3, the quantity produced is 6 bars and the price is $6. Year 1 is the base year. a. What is nominal GDP for each of these three years
Business
1 answer:
NikAS [45]3 years ago
5 0

Answer:

Nominal GDP in year 1 = $16

Nominal GDP in year 2 = $25

Nominal GDP in year 3  = $36

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Nominal GDP is GDP calculated using current year prices

Nominal GDP in year 1 = 4 x $4 = $16

Nominal GDP in year 2 = 5 x $5 = $25

Nominal GDP in year 3 = 6 x $6 = $36

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Internal control does not consist of policies and procedures that
kotegsom [21]

Answer:

d.guarantee the company will earn a profit

Explanation:

Internal controls are controls put in place by management to mitigate against identified risk. Risk basically  refers to what could go wring in a process. Controls are put in place to mitigate against the risk of error or fraud and do not necessarily prevent the company from making a loss.

Companies make profit or loss based on management's decisions such as where to invest, what time to invest, introduction of a new product, management of cost of sales and operating expenses etc

Internal controls basically consist of policies and procedures that ensure that the company's asset are not misused (fraud), no misrepresentation of revenue (fraud), employees and managers comply with laws and regulations,  business information is accurate ( no misrepresentation of records due to error) etc.

Hence Internal control does not consist of policies and procedures that guarantee the company will earn a profit.

The right option is d.

4 0
3 years ago
What are two good interview questions?<br> PLZ help!!
Elodia [21]

Answer:

What experience do you have in this field of work?

Why do you think you're a good fit for this company/job position?

Explanation:

7 0
3 years ago
Emma, Inc. reacquired 166,326 of its shares at $22 per share as treasury stock. Last year, for the first time, Emma sold 37,992
Lesechka [4]

Answer:

The correct answer is $152,949.

Explanation:

According to the scenario, the given data are as follows:

Reacquired shares = 166,326

Per share price = $22

So, we can calculate the retained earning decline by using following formula:

Retained earning decline = Cost of Treasury shares - Sales price - Paid in Capital from stock

Where, Cost of treasury shares = 48,987 × $22 = $1,077,714

Now Sales Price = 48,987 × $15 = $734,805

and Paid in Capital from stock = 37,992 × ( $27 - $22) = $189,960

By putting the value in the formula, we get:

Retained earning decline = $1,077,714 - $734,805 - $189,960

= $152,949

6 0
3 years ago
Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one can of soda, one bag of ch
Virty [35]

Answer:

Year 1, Year 2 purchasing power = 8 , 9 (respectively). As price level fall, value of money<u> Increases </u>

Explanation:

Year one purchasing power = Money ($) / Price per basket = 72 / 9 = 8

Year two purchasing power = Money ($) / Price per basket = 72 / 8 = 9

This implies that, as price level falls (from 9 to 8 here) ,the value of money ie purchasing power increases (from 8 to 9)

8 0
3 years ago
Social media sites can provide a firm with insights into a consumer's opinions about the firm and Blank______. Multiple choice q
Mars2501 [29]

Social media sites can provide a firm with insights into a consumer's opinions about the firm and the opinions about the firm from the consumer's neighbors.

<h3>How social media helps the firm to get the idea of trends?</h3>

Social media helps the company to get the trend and idea about the latest things going on in the world or the latest challenges going on the world. Everything which is happening on the country was on social media platform.

Thus, option B is correct.

For more details about social media helps the firm to get the idea, click here:

brainly.com/question/26865450

#SPJ1

7 0
2 years ago
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