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: 50% (2 reviews)
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...
-
Which of the following statements is most correct? If a market is strong-form efficient, this means that all stocks should have the same expected return. If a market is weak-form efficient, this...
-
Suppose you get a job at MobileTV, a small manufacturer of TV sets installed in cars and boats. Business has declined recently, foreign rivals from emerging markets are increasing competition, and...
-
Anterra Company had a 22-foot fishing boat with an inboard motor that was purchased on April 9, 2006, for $77,000. The PPE Sub ledger shows the following information regarding the boat: On June 27,...
-
Nolan Company has two segments: Audio and Video. Sales for the Audio Segment were $500,000 and variable costs were 40% of sales. The Video Segment also had sales of $500,000 but variable costs were...
-
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...
-
Consider a nation that uses natural resources in the construction of final goods and services. For example, they cut down all their trees to make paper products. In this nation, the value of GDP is...
-
Sample for a Poll There are 30,488,983 Californians aged 18 or older. If The Gallup organization randomly selects 1068 adults without replacement, are the selections independent or dependent? If the...
-
Part A: You have successfully graduated Conestoga College and have joined a public accounting firm in their tax department. You have been assigned to work on a project with Emily Wilson, one of the...
-
Write a program that gets a list of integers from input, and outputs negative integers in descending order (highest to lowest). Ex: If the input is: 10 -7 4-39 -6 12 -2 the output is: -2-6-7-39 For...
-
The manager of a division that produces add-on products for the automobile industry had just been presented the opportunity to invest in two independent projects. The first is an air conditioner for...
-
4. We are interested in the effect on test scores of the student-teacher ratio (STR). The following regression results have been obtained using the California data set. All the regressions used...
-
If H() = sin , find H'() and H"()
-
Determine by direct integration the values of x for the two volumes obtained by passing a vertical cutting plane through the given shape of Fig. 5.21. The cutting plane is parallel to the base of the...
-
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...
-
Ted and his partners have contracted to purchase the franchise nights worth 561 000 to open and operate a specialty pizza restaurant called Popper with a renewable agrement, the partners have agreed...
-
Your answer is partially correct. Martin Company's chief financial officer feels that it is important to have data for the entire quarter especially since their financial forecasts indicate some...
-
Kellog Corporation is considering a capital budgeting project that would have a useful life of 4 years and would love testing 5156.000 in equipment that would have zeto salvage value at the end of...
Study smarter with the SolutionInn App