Real gdp= sum of multiplication of price of 2009 and quantity of 2018
Real gdp= 55*120 + 2*100 + 35*55 + 0.9*12000
= 6600 + 200 + 1925 + 10800
= 19525
Score: 0 of 6 pts 6 of 9 (8 complete) HW Score: 37 End of Chapter...
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2009 Statistics Quantity Price Quantity 2018 Statistics 2019 Statistics Product Shoes Hamburgers Shirts Cotton 110 $55.00 3.00 70 40.00 0.90 120 60 12,000 120 $70.00 3.00 35.00 0.75 Price Quantity Price 120 $75.00 3.50 85 35.00 0.80 85 135 12,000 13,000 a. f the...
Suppose the information in the following table is for a simple economy that produces only the following four goods: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used to produce shirts. 2009 Statistics 2018 Statistics 2019 Statistics Product Quantity Price Quantity Price Quantity Price Shoes 100 $52.00 115 $65.00 110 $70.00 Hamburgers 85 3.00 120 3.00 135 3.50 Shirts 70 40.00 60 35.00 85 35.00 Cotton 12,000 0.90 12,000 0.75 13,000 0.80 a. If...
suppose that a simple economy... End of Chapter 1.11 Suppose that a simple econormy produces only the following four goods and services: shoes, hamburgers, shirts, and cotton Further, assume used in the production of shirts that all of the cotton is Use the information in the following table to calculate Nominal Gross Domestic Product (Nominal GDP) for 2019 PRODUCTION AND PRICE STATISTICS FOR 2019 Product Quantity Price $70.00 Shoes 150 Hamburgers 125 3.00 30.00 Shirts Cotton 75 2,000 0.80 The...
core: 0 of 6 pts 9 of 12 (9 complete) Hw Score: 50%, 190138 p Chapter Problem 2 Oaston Help Suppose the two countries we considered in the numerical exartple in the t automobiles. Find the number of firms, the output per firm, and the price per automobile in the new integrated text were to integrate their automobile market with a third country with an annual market for 3,750,000 You are given the following information The total sales (S) in...