Answer:
The correct answer is: expressed in the prices of a base year.
Explanation:
Real GDP is an inflation-adjusted measure to calculate changes in economic output. It calculates the value of final goods and services produced in an economy in a year expressed in the prices of a base year.
Real GDP does not include changes in the price of products as it is calculated at constant prices.
Nominal GDP, on the other hand, is calculated on the basis of current prices. It includes changes in prices and is not inflation-adjusted. That is why real GDP is preferred over nominal GDP.
Answer:
Option (a) is correct.
Explanation:
According to the law of demand, there is an inverse relationship between the price of the product and the quantity demanded for that product. Hence, if there is an increase in the price of the good then as a result this will decrease the quantity demanded for the good and if there is a fall in the prices of the goods then as a result the quantity demanded for the goods increases.
Therefore, the change in the price level of the goods represents the cause and its effect is the change in the quantity demanded for the goods that a consumer want to purchase.
Answer: Virgo is an earth sign historically represented by the goddess of wheat and agriculture, an association that speaks to Virgo's deep-rooted presence in the material world. Virgos are logical, practical, and systematic in their approach to life. ... Virgo is governed by Mercury, the messenger planet of communication.
Explanation: But I'm a Taurus and I'm the queen of all Zodiac signs
Leos are the Kings of all Zodiacl signs and I'm lucky I'm on the day of the Taurus zodiac change April 20th and my birth mineral is Crytal. Or Diamond
If the questions are “would
I choose to buy the book in the first place”, and “Would I sell the book at the
end of the course”, the answer to both questions is yes. The benefit of buying
the book for the course is $400 dollars, which is greater than the sales price
of $250. Thus, I would buy the book. At the end of the course, the benefit of
keeping the book is $50, while my potential sales price is $125 (50% of 250).
Thus, I can sell the book for more than it is worth to me, so I will sell the
book at the end of the course.
Answer:
the balance in the unearned revenue as on Dec 31 is $200,000
Explanation:
The computation of the balance in the unearned revenue as on Dec 31 is as follows
= Yearly subscription revenue collected ÷ total number of months in a year × given number of months
= $480,000 ÷ 12 months × 5 months
= $200,000
The five month is calculated from Dec 31 to May 31
Hence, the balance in the unearned revenue as on Dec 31 is $200,000