Suppose a small economy produces only HDTV sets. In year one, 100,000 sets are produced and sold at a price of $1,200 each. In year two, 100,000 sets are produced and sold at a price of $1,000 each. As a result, Multiple Choice
a. nominal GDP and real GDP both decrease. nominal GDP decreases,
b. while real GDP stays constant. nominal GDP stays constant,
c. while real GDP decreases.
d. nominal GDP decreases, and real GDP decreases even more.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose a small economy produces only HDTV sets. In year one, 100,000 sets are produced and sold at a price of $1,200 each. In year two, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The Cowboy Saddle Company manufactures plastic saddles that are used in the assembly process of their Mr. Ed doll. The firm desires to control inventory levels so as to minimize the sum of holding and order costs.
Answers (1)
Shipments of product X from a plant to a wholesaler are made in lots of 600 units. The wholesaler's average demand for product X is 150 units per week. Lead time from plant to wholesaler is 4 weeks.
Answers (1)
Saying "the marginal costs are greater than the marginal benefits" is the same as saying the average costs are greater than the average benefits. the total costs are greater than the average benefits. the benefits are greater than the costs.
Answers (1)
Describe how bargaining may be different in the business and professional setting as opposed to other interpersonal interactions.
Answers (1)
Compute the price of a 4.8 percent coupon bond with 10 years left to maturity and a market interest rate of 7.4 percent. (Assume interest payments are semiannual.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answers (1)
New Questions in Business
Repbulic LLC exchanged land used in its business for some new land to be used in the business. Republic LLC originally purchased the land it exchanged for $37,500. The new land had a fair market value of $39,750.
Answers (1)
Jacob chose to spend the afternoon swimming rather than going to the movies any value given up from not going to the movies is the
Answers (1)
In a survey of consumers aged 12 and older, respondents were asked how many cell phones were in use by the household. (no two respondents were from the same household.
Answers (1)
As a manager of a department store, you must deal with a variety of business transactions. Place the letter of each of the following transactions next to the effect it has on the accounting equation. a.
Answers (1)
A new opportunity arises for Quixote Metal Supply just before the holidays. A Request for Proposals (RFP) is distributed by the government seeking metal suppliers to fill a vacancy in the supply chain to build x-ray machines for airports across the
Answers (1)