Answer:
$50,000
Explanation:
Data given in the question
Number of wheat sold to Big Ben Bakery = $5,000
Number of hamburger buns sold to Hamburger heaven = $11,000
Buys of beef = $20,000
Number of hamburgers used = 10,000
Selling price for each hamburger = $5
So by considering the above information, the GDP amounted to
= Number of hamburgers used × Selling price for each hamburger
= 10,000 × $
= $50,000
As GDP refers to the value of final goods and services that are to be produced.
Answer:
d) Materiality
Explanation:
Materiality is defined as the impact of the omission of trivial matters that are important to the report audience. In the question given this materiality is the reason why the company's independent accountants did not protest.
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Answer:
C. If nominal GDP rises but real GDP remains unchanged, it must be that production has increased.
Explanation:
The CPI and the GDP price index and implicit price deflator are alternative measures of inflation in the U.S. economy. The choice of which one to use in a given scenario likely depends on the set of goods and services in which one is interested as a measure of price change. The CPI measures price change from the perspective of an urban consumer and thus pertains to goods and services purchased out of pocket by urban consumers. The GDP price index and implicit price deflator measure price change from the perspective of domestic production of goods and services and thus pertain to goods and services purchased by consumers, businesses, government, and foreigners, but not importers. In addition, the formulas used to calculate these two measures differ.
Both firms have market power.
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<h3><u>How Do Oligopolies Work?</u></h3>
An oligopoly is a market structure comprising a few enterprises, none of which can prevent the others from having a sizable impact. The concentration ratio calculates the largest companies' percentage of the market. A market with a monopoly has just one producer, a duopoly has two businesses, and an oligopoly has three or more businesses. The maximum number of firms in an oligopoly is unknown, but it must be low enough such that each firm's activities have a major impact on the others.
Learn more about Oligopolies with the help of the given link:
brainly.com/question/14285126?referrer=searchResults
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