5. Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002, Americans produced 20 units of A at a price of $20 and 30 units of B at a price of $30. The Nominal GDP for 2002 is: a. $100 b. $400 c. $500 d. $900 e. $1300

5. Assume that there are two goods, A and B. In 1996, Americans produced
10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002,
Americans produced 20 units of A at a price of $20 and 30 units of B at a
price of $30. The Nominal GDP for 2002 is:
a. $100
b. $400
c. $500
d. $900
e. $1300
by

1 Answer

Answer :

e. $1300
by

Related questions

6. Using the numbers in question 5, the Real GDP for 2002 is: a. $400 b. $500 c. $800 d. $900 e. $1,300

Description : 6. Using the numbers in question 5, the Real GDP for 2002 is: a. $400 b. $500 c. $800 d. $900 e. $1,300

Last Answer : c. $800

Assume that the required ratio is 10 percent and bank receives $1,000 deposit. What is the excess reserves ? (a) $100 (b) $9,000 (c) $900 (d) $10,000

Description : Assume that the required ratio is 10 percent and bank receives $1,000 deposit. What is the excess reserves ? (a) $100 (b) $9,000 (c) $900 (d) $10,000

Last Answer : (c) $900

Jake’s Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company’s merchandise inventory a. increased by $19,208. b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Description : Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. ... . b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.

Last Answer : d. increased by $19,308.

Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed that $20,000 was still on hand. The cost of goods available for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.

Last Answer : c. Purchases Returns and Allo

1. Assume that there are only two goods: A and B In the base year, Quantity Price A 10 $1 B 10 $4 In the current year, Quantity Price A 20 $ 5 B 25 $20 The Consumer Price Index (CPI) for the current year is: a. 50 b. 100 c. 200 d. 500 e. 60

Description : 1. Assume that there are only two goods: A and B In the base year, Quantity Price A 10 $1 B 10 $4 In the current year, Quantity Price A 20 $ 5 B 25 $20 The Consumer Price Index (CPI) for the current year is: a. 50 b. 100 c. 200 d. 500 e. 60

Last Answer : d. 500

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

.If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Description : .If your current capacity is 10,000 units and your automation level is 5.0, what is the difference of the investment between doubling your capacity and doubling your automation level? a. $60,000 b. $20,000 c. $10,000 d. $520,000 e. $260,000

Last Answer : a. $60,000

Company A sells $500 of merchandise on account to Company B with credit terms of 2/10, n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? a. $350 b. $490 c. $450 d. $400

Description : Company A sells $500 of merchandise on account to Company B with credit terms of 2/10, n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? a. $350 b. $490 c. $450 d. $400

Last Answer : b. $490

.If you are currently producing 100,000 units and your automation level is 10, how much will it cost you to double your capacity? a. $1,000,000 b. $4,600,000 c. $100,000 d. $10,000 e. none of the above

Description : .If you are currently producing 100,000 units and your automation level is 10, how much will it cost you to double your capacity? a. $1,000,000 b. $4,600,000 c. $100,000 d. $10,000 e. none of the above

Last Answer : b. $4,600,000

Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Last Answer : C. The total value of goods and services measured at current prices

Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Description : Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Last Answer : (c) The total value of goods and services measured at current prices

If in 2000 nominal GDP is = `70000 Crore and the prices in 2000 were 40% more than the real GDP in 2000 using 1996 as a base year is (a) `45,000 Crore ; (b) `50,000 Crore ; (c) `42,000 Crore ; (d) `98000 Crore

Description : If in 2000 nominal GDP is = `70000 Crore and the prices in 2000 were 40% more than the real GDP in 2000 using 1996 as a base year is (a) `45,000 Crore ; (b) `50,000 Crore ; (c) `42,000 Crore ; (d) `98000 Crore

Last Answer : (b) `50,000 Crore ;

At the beginning of April, Logan Enterprises had a $400 balance in the Supplies account. During the month, Logan purhchased additional supplies for $500. At April 30, the company had $350 of supplies on hand. The balance in the supplies expense account that will be closed to Income Summary is a. $350. b. $400. c. .$500. d. $550.

Description : At the beginning of April, Logan Enterprises had a $400 balance in the Supplies account. During the month, Logan purhchased additional supplies for $500. At April 30, the company had $350 of supplies on hand. The balance ... be closed to Income Summary is a. $350. b. $400. c. .$500. d. $550.

Last Answer : d. $550.

8. If the monetary base is increased by $1,000 and the reserve requirement is 10% (1/10), by how much will the money supply be increased? a. $100 b. $1,000 c. $5,000 d. $10,000

Description : 8. If the monetary base is increased by $1,000 and the reserve requirement is 10% (1/10), by how much will the money supply be increased? a. $100 b. $1,000 c. $5,000 d. $10,000

Last Answer : d. $10,000

When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Description : When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Last Answer : c. 30%

When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Description : When my income was $100,000, I paid $10,000 in taxes. When my income became $200,000, I paid $40,000 in taxes. My marginal tax rate is: a. 10% b. 20% c. 30% d. 40%

Last Answer : c. 30%

The title of the problem tells you how to approach these four questions.(A). A bus leaves Moscow for Tula at noon. An hour later a cyclist leaves Tula for mosco, moving slower than the bus. When the bus and cyclist meet, which one of the two will be farther from Moscow?(B). Which is worth more: a pound of $10 gold peices or half a pound of $20 gold pieces?(C). At six o'clock the wall clock struck 6 times. Checking with my watch, I noticed the time between the first and last strokes was 30 seconds. How long will the clock take to strike 12 at midnight?(D). Three swallows fly outward from a point. When will they all be on the same plane in space?Now check the answers. Did you fall into any of the traps which lurk in these simple problems? -Riddles

Description : The title of the problem tells you how to approach these four questions.(A). A bus leaves Moscow for Tula at noon. An hour later a cyclist leaves Tula for mosco, moving slower than the bus. ... Now check the answers. Did you fall into any of the traps which lurk in these simple problems? -Riddles

Last Answer : (A). Neither (B). A pound of metal is always more than half a pound of the same metal. (C). Six strokes took 30 seconds, therefore 12 strokes will take 60 seconds. But when the clock struck ... , therefore 12 strokes will take 66 seconds. (D). There is always a plane that contains any 3 points

What is the total cost in dollars for adding 1.0 million units of capacity to a production line with an automation level of 1.0 and floor space costs per unit of $6? Assume automation costs per unit of $4. a. $26 million b. $10 million c. $2.6 million d. $1 million e. none of the above

Description : What is the total cost in dollars for adding 1.0 million units of capacity to a production line with an automation level of 1.0 and floor space costs per unit of $6? Assume automation costs per unit of $4. a. $26 million b. $10 million c. $2.6 million d. $1 million e. none of the above

Last Answer : b. $10 million

8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Description : 8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Last Answer : a. more than $10 billion

A man decides to buy a nice horse. He pays $600 for it, and he is very content with this strong animal. After a year, the value of the horse has increased to $700 and he decides to sell the horse. But already a few days later he regrets his decision to sell the beautiful horse, and he buys it again. Unfortunately he has to pay $800 to get it back, so he loses $100. After another year of owning the horse, he finally decides to sell the horse for $900. What is the overall profit the man makes? -Riddles

Description : A man decides to buy a nice horse. He pays $600 for it, and he is very content with this strong animal. After a year, the value of the horse has increased to $700 and he decides to sell the ... horse, he finally decides to sell the horse for $900. What is the overall profit the man makes? -Riddles

Last Answer : The man makes an overall profit of $200.

There is a clothing store in Bartlesville. The owner has devised his own method of pricing items. A vest costs $20, socks cost $25, a tie costs $15 and a blouse costs $30. Using the method, how much would a pair of underwear cost? -Riddles

Description : There is a clothing store in Bartlesville. The owner has devised his own method of pricing items. A vest costs $20, socks cost $25, a tie costs $15 and a blouse costs $30. Using the method, how much would a pair of underwear cost? -Riddles

Last Answer : $45. The pricing method consists of charging $5 for each letter required to spell the item.

A new clothing store has a unique method of pricing items. A vest costs $20, a tie costs $15, a blouse costs $30, and underwear costs $45. How much would pants cost? -Riddles

Description : A new clothing store has a unique method of pricing items. A vest costs $20, a tie costs $15, a blouse costs $30, and underwear costs $45. How much would pants cost? -Riddles

Last Answer : $25. The pricing method charges $5 for each letter needed to spell the item.

In the current contract, the workers’ wage rate is $20.00. Which of the following negotiation positions would be outside the starting and ceiling amounts? a. $16.00 to $25.00 b. $18.00 to $30.00 c. $18.00 to $35.00 d. $16.00 to $20.00

Description : In the current contract, the workers’ wage rate is $20.00. Which of the following negotiation positions would be outside the starting and ceiling amounts? a. $16.00 to $25.00 b. $18.00 to $30.00 c. $18.00 to $35.00 d. $16.00 to $20.00

Last Answer : c. $18.00 to $35.00

What is the correct formula for GDP Deflater? a) Nominal GDP - (minus) Real GDP b) Nominal GDP + Real GDP c) Nominal GDP/ Real GDP d) Real GDP/ Nominal GDP

Description : What is the correct formula for GDP Deflater? a) Nominal GDP - (minus) Real GDP b) Nominal GDP + Real GDP c) Nominal GDP/ Real GDP d) Real GDP/ Nominal GDP

Last Answer : c) Nominal GDP/ Real GDP

3 men go into a motel. The man behind the desk said the room is $30, so each man paid $10 and went to the room. A while later the man behind thedesk realized the room wasonly $25, so he sent the bellboy to the 3 guys' room with $5. on the way the bellboy couldn't figure out how to split$5 evenly between 3 men, so he gave each man a $1 and kept the other $2 for himself. This meant that the 3 men each paid $9 for the room, whichis a total of $27, add the $2 that the bellboy kept = $29. where is the other dollar? -Riddles

Description : 3 men go into a motel. The man behind the desk said the room is $30, so each man paid $10 and went to the room. A while later the man behind thedesk realized the room wasonly $25, so he sent the ... whichis a total of $27, add the $2 that the bellboy kept = $29. where is the other dollar? -Riddles

Last Answer : The three men HAVE paid $27. But the bellboy's $2 are part of it. The hotel has $25 of the men's dollars. The bellboy has the other two. That's $27, and the three the men have make $30. The ... elsewhere on riddles.com, but the answer given was 'I don't know'! So I figured it out and posted it.

Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Description : Companies can enter a Recruiting Spend budget up to an additional ____. a. $5,000 b. $7,500 c. $10,000 d. $20,000 e. $50,000

Last Answer : a. $5,000

At what dollar amount above the segment guidelines is all consumer appeal lost? a. $3 b. $5 c. $10 d. $20 e. None of the above

Description : At what dollar amount above the segment guidelines is all consumer appeal lost? a. $3 b. $5 c. $10 d. $20 e. None of the above

Last Answer : b. $5

Three friends Alice, Bond and Charlie divide $1105 amongst them in such a way that if $10, $20 and $15 are removed from the sums that Alice, Bond and Charlie received respectively, then the share of the sums that they got will be in the ratio of 11 : 18 : 24. How much did Charlie receive? a) $495 b) $510 c) $480 d) $375 e) $360

Description : Three friends Alice, Bond and Charlie divide $1105 amongst them in such a way that if $10, $20 and $15 are removed from the sums that Alice, Bond and Charlie received respectively, then the share of the sums that ... 18 : 24. How much did Charlie receive? a) $495 b) $510 c) $480 d) $375 e) $360

Last Answer : Answer: A Let the sums of money received by A, B and C be x, y and z respectively. Then x - 10 : y - 20 : z -15 is 11a : 18a : 24a When $10, $20 and $15 are removed, we are removing a total of $45 from ... or a= 20 We know that z - 15 = 24a = (24 * 20) = 480 Therefore, z = 480 + 15 = $495

I am about to become homeless in a few days. I just got a job at CitiFields and I need to find a place to stay. I would like to know of places that are looking for people that can pay a min($300-$400)a month, or even $100-$120-a week. ?

Description : I am about to become homeless in a few days. I just got a job at CitiFields and I need to find a place to stay. I would like to know of places that are looking for people that can pay a min($300-$400)a month, or even $100-$120-a week. ?

Last Answer : You may want to check out local motels that rent rooms furnished for about $120 a week.

Beggars making $30,000 to $100,000 a year in the U.S.,What do you think of this?

Description : Beggars making $30,000 to $100,000 a year in the U.S.,What do you think of this?

Last Answer : Then the government should consider taxing begging gains over a certain limit.

A robber came into my store and stole $100 from the register without my knowledge. A few minutes later, the same guy came back with the $100 he stole and purchased $70 worth of items and I gave him $30 in change. How much money did I lose? -Riddles

Description : A robber came into my store and stole $100 from the register without my knowledge. A few minutes later, the same guy came back with the $100 he stole and purchased $70 worth of items and I gave him $30 in change. How much money did I lose? -Riddles

Last Answer : I lost $100

A restaurant offers special prices for groups dining together. For a buffet dinner, the restaurant charges $10.00 for one person, $20.00 for two people, $29.00 for three people, $37.00 for four people, $44.00 for five people. How much does for 8 cost?

Description : A restaurant offers special prices for groups dining together. For a buffet dinner, the restaurant charges $10.00 for one person, $20.00 for two people, $29.00 for three people, $37.00 for four people, $44.00 for five people. How much does for 8 cost?

Last Answer : 59

The best case margin potential for a product with a top price of $30 and a minimum cost of goods sold of $15 is: a. $45. b. $2. c. $450. d. $.50. e. none of the above.

Description : The best case margin potential for a product with a top price of $30 and a minimum cost of goods sold of $15 is: a. $45. b. $2. c. $450. d. $.50. e. none of the above.

Last Answer : e. none of the above.

If a country's debt-to-GDP is currently 25%and its debt is expected to grow from $16 trillion to $20 trillion in the next ten years, what will be the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?

Description : If a country's debt-to-GDP is currently 25%and its debt is expected to grow from $16 trillion to $20 trillion in the next ten years, what will be the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?

Last Answer : 80 trillion

Does our $20 donation or even $100 donation help save starving childrens' lives?

Description : Does our $20 donation or even $100 donation help save starving childrens' lives?

Last Answer : answer:Canadian Unicef gives this breakdown…. •4% of your donation goes on administration •20% of your donation is used for fundraising That means 76% goes to the actual programs. That’s a pretty good ratio

ECE Board Exam March 1996 What is the transmission rate of a system for transmitting the output of a microcomputer to a line printer operating at a speed of 30 lines/minute? Assume that the line printer has 8 bits of data per character and prints out 80 characters/line. A. 800 bps B. 400 bps C. 320 bps D. 640 bps

Description : ECE Board Exam March 1996 What is the transmission rate of a system for transmitting the output of a microcomputer to a line printer operating at a speed of 30 lines/minute? Assume that the line printer has 8 bits ... and prints out 80 characters/line. A. 800 bps B. 400 bps C. 320 bps D. 640 bps

Last Answer : C. 320 bps

A man left an inheritance of $10,000 to three relatives and their wives. Together the wives received $3960. Janine received $100 more than Cathy, and Maria received $100 more than Janine. Joe received the same amount as his wife, Hary got half as much again as his wife, and Tom received twice as much as his wife. How much did each receive? -Riddles

Description : A man left an inheritance of $10,000 to three relatives and their wives. Together the wives received $3960. Janine received $100 more than Cathy, and Maria received $100 more than Janine. Joe received the ... his wife, and Tom received twice as much as his wife. How much did each receive? -Riddles

Last Answer : Carthy, Janine and Maria received $1220, $1320, and $1420 respectively. Joe received the same as his wife Carol, $1220. Hary received half again what his wife Janine did, $1980. Tommy got twice as much as his wife Maria, $2840.

A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later he regrets his decision to sell the collector's item, and he buys it again. Unfortunately he has to pay $80 to get it back, so he loses $10. After a year of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Description : A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later ... of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Last Answer : $30.00. Overall profit, not net profit!

Given Real GDP of 6.5% and rate of inflation of 5.5% nominal GDP will be……. (a) 12% ; (b) 10% ; (c) 10.5% ; (d) 9.5%

Description : Given Real GDP of 6.5% and rate of inflation of 5.5% nominal GDP will be……. (a) 12% ; (b) 10% ; (c) 10.5% ; (d) 9.5%

Last Answer : (a) 12% ;

Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : (4) GNP Explanation: Gross National Product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country. It is ... ), defined as "the value of all final goods and services produced in a country in I year."

Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : GNP

A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. What amount is received as payment in full on July 24? a. $900 b. $833 c. $850 d $882

Description : A credit sale of $900 is made on July 15, terms 2/10, n/30, on which a return of $50 is granted on July 18. What amount is received as payment in full on July 24? a. $900 b. $833 c. $850 d $882

Last Answer : b. $833

If a line has a capacity of 100,000 units, the cost of changing the automation level 1 unit either up or down is a. $60,000. b. $40,000. c. $400,000. d. $600,000. e. none of the above.

Description : If a line has a capacity of 100,000 units, the cost of changing the automation level 1 unit either up or down is a. $60,000. b. $40,000. c. $400,000. d. $600,000. e. none of the above.

Last Answer : c. $400,000.

GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area

Description : GDP is the money value of final goods and serviced produced in the………….of a country during an accounting year A. Domestic territory B. Political territory C. Specific area D. FTZ area

Last Answer : A. Domestic territory

GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) Sum of goods and services exported during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ; 

How is Nominal GDP is measured in?

Description : How is Nominal GDP is measured in?

Last Answer : Need answer

Given Real GDP 8.25%, Nominal GDP 11.25%, Rate of inflation will be (a) 2.5% ; (b) 3% ; (c) 4.25% ; (d) 3.5%

Description : Given Real GDP 8.25%, Nominal GDP 11.25%, Rate of inflation will be (a) 2.5% ; (b) 3% ; (c) 4.25% ; (d) 3.5%

Last Answer : (b) 3% ;

If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden

Description : If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden

Last Answer : (b) Rate of inflation ;

Nominal GDP is measured in ………………..prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Description : Nominal GDP is measured in ………………..prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Last Answer : (b) Current year ;