Answer: Option (B) is correct.
Explanation:
The nominal GDP is equal to the real GDP in the base year, that's why GDP deflator in the base year is equal to 100.
GDP deflator is calculated as the nominal GDP divided by the real GDP multiply by 100. It is shown as:
GDP deflator = 
GDP deflator would be used as the conversion factor that transformed the real GDP into nominal GDP.
A budget can help teens start to discern between genuine needs and wants and will show them where their money is going each month. A good budget will provide for both needs and at least some wants and should be flexible and relatively easy to use and understand.
True. A monopolist does not face the same constraints as an open or free market but instead is bounded by the consumers' demand for its products. Therefore, the firm's decision about how much to supply is directly related to its demand curve because they can produce as much or as little as the consumes demand.
Answer:
Date Account titles & Explanation Debit Credit
Sep 04 Purchases (70 backpacks*$50) $3,500
Accounts payable $3,500
Sep 06 Accounts payable $300
Purchase return and allowances $300
Sept 09 Accounts receivable $1,260
(15 backpacks*$84)
Sales $1,260
Sept 13 Accounts payable $3,200
(64 backpacks*$50)
Purchase discount (3,200*2%) $64
Cash (3,200*98%) $3,136
