Question: Consider the data shown below for Vicuna, a country that produces only two products: oranges and shirts. Year Oranges Produced Price of Oranges Shirts Produced

Consider the data shown below for Vicuna, a country that produces only two products: oranges and shirts.

Year Oranges Produced Price of Oranges Shirts Produced Price of Shirts
2021 1,800 $0.90 110 $30.00
2022 2,000 1.00 110 35.00

Nominal GDP for Vicuna for 2021 equals

A.

$5,300.

B.

$4,920.

C.

$5,850.

D.

$5,100.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Kubin Company's relevant range of production is 24,000 to 31,000 units. When it produces and sells 27,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable...

Q:

Table 15-10 Year Shirts Produced Oranges Produced 1,800 2,000 Price of Oranges (Dollars) $0.90 $1.00 Price of Shirts (Dollars) 1998 110 110 $30 $35 2000 Consider the data shown above for a fictional...

Q:

Solve clearly 4. Consider the following data for a fictional economy that produces only to products: oranges and shirts. (4 points) Year Oranges produced (g1: Price of oranges Shirts produced (Q)...

Q:

A company based in China manufactured semiconductors in 2020. A computer manufacturing company based in the US imported this semiconductor in 2021, built it into a personal computer, and exported the...

Q:

Here is the new homework question. Please review the General Homework instructions due to the instructor being so strict. Were there any podcasts or Homework document notes that you needed me to...

Q:

Solve the following Short Answer (40 points - 10 points each)_Answer each of the following short answer questions in the space provided. Be concise, but do not simply use bullet-points to answer the...

Q:

This is an annual report of an Agricultural Marketing Company Ltd . Now ans the question below; Who are the users of the accounting information of this business. ?What are the different types of...

Q:

PLEASE COMPLETE NO LATER THAN 10/14 @3:30PM Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

Q:

PLEASE COMPLETE NO LATER THAN 10/14 @3:30PM Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

Q:

4 Files 12:47 PM Mon May 16 Insert Draw Layout Review View Unit 3Microec0nomics Name: ELASTICITY Use the space below to take notes during class. Elastic: Unit Elastic: Inelastic: Perfect...

Q:

Montonya Company has the following selected data for the current year: Sales (10,000 units) $90,000 Direct materials 30,000 Direct labor costs 10,000 Variable manufacturing overhead 3,500 Fixed...

Q:

If a sample of items is taken and the mean of the sample is outside the control limits the process is:

Q:

Claris Chemicals Inc. produces three industrial cleaners out of a common process; Cleaner A, Cleaner B and Cleaner C. All products are sold at split-off. The company currently uses the physical...

Q:

Patients have a right to request an accounting of disclosures. When requested, how many years back must the covered entity include?

Q:

Discuss qualitative research designs in detail?