Answer:
The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."
Explanation:
The real GDP growth is the value of all goods produced in a given year; nominal GDP is the value of all the goods taking price changes into account.
The nominal GDP is the value of all the final goods and services that an economy produced during a given year. It is calculated by using the prices that are current in the year in which the output is produced. The nominal GDP takes into account all of the changes that occurred for all goods and services produced during a given year. For example, a nominal value can change due to shifts in quantity and price.
The real GDP is the total value of all of the final goods and services that an economy produces during a given year, accounting for inflation. It is calculated using the prices of a selected base year.
The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."
Answer:
Land $434,696
Land improvements $108,609
Building $1,720,600
To Cash $2,263,905
(Being the amount paid in cash is recorded)
Explanation:
The journal entry is shown below:
Land $434,696
Land improvements $108,609
Building $1,720,600
To Cash $2,263,905
(Being the amount paid in cash is recorded)
The land, land improvements and the building increases the assets so it is debited while the cash is credited as the cash is paid
The computation of the land is shown below:
= Purchase price of the land + purchase price for the old building + paid amount for tear down the old building + cost to fill and level the lot
= $224,000 + $119,000 + $37,000 + $54,696
= $434,696
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The correct answer is B. Monopolistic competition
Explanation:
Monopolistic competition occurs when the producers of a product determine the price of it. Also, the products sold have differences, which means consumers do not consider one product can be substituted by another because the qualities, brand, appearance, etc. are different. This is the opposite of perfect competition, in which products are substitutes and price is determined by price and demand rather than producers.
Monopolistic competition occurs in the case presented because the chocolates sold by Jack are different from those sold by Mia, who uses attractive boxes. Also, due to this difference, Mia can set higher prices and still get more demand from consumers.
Answer:
<u>customer type.</u>
Explanation:
Lockdown Industries sells products to different types of customers, it would be ideal to use a departmental marketing strategy for each type of potential customer. This would benefit from directing strategic communication that is essential for retaining each type of customer the company has, facilitating the optimal approach, retention and capture of new customers.
