Answer:
B. To the left; recessionary gap; fall
Explanation:
Short-Run Macroeconomic equilibrium occurs when the real GDP demand is equal to the real GDP supply. When there is a shift to the left it means GDP demand decreases below supply leading to an excess in supply of goods and services. When this happens, there's a fall in the level of employment and other indicators of recession. This will also invariably lead to a Fall in the aggregate level of price in order to attract more demand.
The opposite scenario occurs when there is a shift to the right or increase in demand.
Answer:
A) What is the GDP price index for 1984, using 2005 as the base year?
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the GDP price index using 2005 as base year = [($15 / $20) x 100] = 75
B) By what percentage did the price level, as measured by this index, rise between 1984 and 2005? ...percent.
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the price level increased by: [(100 - 75) / 75] x 100 = 33.33%
C) What were the amounts of real GDP in 1984 and 2005?
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In 1984, real GDP = $20 x 7,000 buckets = $140,000 or we can also use another method = ($15 x 7,000) / 0.75 = $105,000 / 0.75 = $140,000. The answer using both methods should be the same.
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In 2005, real GDP = $20 x 22,000 buckets = $440,000
required field means those are feilds or blanks that you have to answer
Answer:
the fixed cost is $1.72 million
Explanation:
The computation of the fixed cost is shown below:
= Total cost - variable cost
= $3.4 million - ($4.6 million - $3.4 million) ÷ $3.4 million - $.1.2 million ÷ $2 million
= $3.4 million - 2.8 million × $0.60 million
= $1.72 million
Hence, the fixed cost is $1.72 million
Answer:
The future value is $6,894.21
Explanation:
Giving the following information:
Dominic Joseph deposits $5,000 in a new savings account. The account pays 5.5 percent interest compounded annually.
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
PV= 5,000
i= 0.055
n=6
FV= 5,000*(1.055)^6= $6,894.21
