An economy produces $15 billion in investment goods and $100 billion in consumption goods. All investment goods
Question:
An economy produces $15 billion in investment goods and $100 billion in consumption goods. All investment goods were sold, but only $90 billion of the consumption goods were sold. There is no government or international trade. What was GDP ? What was consumption and investment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
GDP was 115 billion the sum of output produced Consumpti...View the full answer
Answered By
Muhammad Haroon
More than 3 years experience in teaching undergraduate and graduate level courses which includes Object Oriented Programming, Data Structures, Algorithms, Database Systems, Theory of Automata, Theory of Computation, Database Administration, Web Technologies etc.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Describe how might trends mentioned in the article provided, affect decisions and strategies of corporations and managers; in consideration of areas such as growth, sales, production, alliances,...
-
Suppose that the economy has a consumption of $14 trillion, domestic investment of $4 trillion, government purchases of $9 trillion, export of $2 trillion, import of $4 trillion, capital inflow of $4...
-
MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
-
I need help with the 10-column worksheet. When I do the balance sheet the difference of my balance numbers do not equal my net income when it should. My net income is correct since the books states...
-
Review the information in Illustration Capsule 4.1 concerning the value chain average costs of producing and selling an upscale polo shirt and compare this with the representative value chain...
-
Determine the present value of $200,000 to be received at the end of each of four years, using an interest rate of 7%, compounded annually, as follows: a. By successive computations, using the...
-
A pilot survey was conducted with thirty respondents to examine Internet usage for personal (nonprofessional) reasons. The following table contains the resulting data giving each respondent's sex...
-
A long 1.2 m OD pipeline carrying oil is to be installed in Alaska. To prevent the oil from becoming too viscous for pumping, the pipeline is buried 3 m below ground. The oil is also heated...
-
Q10) There is a 48.84% probability of an average economy and a 51.16% probability of an above average economy. You invest 24.55% of your money in Stock S and 75.45% of your money in Stock T. In an...
-
There are only two firms in an economy. Firm A buys from Firm B and vice versa. What is the value added for each firm? What is GDP ? Show that total factor income equals GDP. Total sales Wages, rent,...
-
A farmer grows corn, which she sells for $10; a miller buys the corn, grinds it, and sells it as cornmeal for $15; a baker buys the cornmeal and sells it as corn muffins for $22. How much was...
-
For taxpayers qualifying for home office deductions, what are considered to be indirect expenses of maintaining the home? How are these expenses allocated to personal and home office use? Can...
-
Henry owns a local hardware store and employs Irina and Joe as his sales associates. Kevin and his wife Lisa enter the store looking for a new grill. Please answer the following questions: 1.Suppose...
-
1.What is supplemental jurisdiction? es. 2.What is an anchor claim? 3.What type of claim acquires supplemental jurisdiction? 4.Which types of claims can acquire supplemental jurisdiction? 5.Which...
-
Describe a business practice that meets the legal level of social responsibility but does not meet the ethical level. Next, discuss two forms of moral disengagement that business leaders might...
-
explains the difference between the cash balance of the company books and the balance of the bank statement.
-
Financial aid debt and depression Restate the problem statement. Synthesize the results of your lens evaluations, data gathered, and interview results. Propose two recommendations to address the...
-
How is a loss on the sale of a long-term asset treated when using the direct method? The indirect method?
-
1. What is the semi-annually compounded interest rate if $200 accumulates to $318.77 in eight years? Answer in percentage with two decimal places. 2. What is the quarterly compounded interest rate if...
-
Suppose that France and Germany both produce cheese and wine. The following table shows combinations of the goods that each country can produce in a day. a. Which country has a comparative advantage...
-
Suppose you are building an economic model to forecast the number of people employed in U.S. manufacturing in 2026. Should your model take into account possible changes in economic policy enacted by...
-
The Apply the Concept feature explains that there are both positive and normative aspects to the debate over whether the federal government should enact tariffs on imports from China. What economic...
-
A single proprietorship has a gross receipts of P500,000 from ordinary transactions, capital gains of P120,000 from sale of car and interest income of P4,000, net of final tax of 20%. The optional...
-
Assume the following Information: Sales Variable expenses Contribution margin Fixed expenses Net operating income Amount Per Unit $ 300,000 120,000 $ 40 16 $ 24 180,000 60,000 $ 120,000 If unit sales...
-
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $151,200 and expected direct labor hours of 12,600 for the current fiscal year. If job 117 incurs 1,960 direct labor hours,...
Study smarter with the SolutionInn App