An economy only produces cars and beef. Neither production requires intermediate goods. In 2019 200 cars are produced and sold at a price of $15,000 each and 1,000,000 pounds of beef are produced and sold for $7.00 per pound. In 2020 250 cars are produced and sold at a price of $16,000 each and 1,000,000 pounds of beef are produced and sold for $8.00 per pound. (a) (1 point) Calculate the nominal GDP in each year. (b) (4 points) 2019 is the base year. Calculate the real GDP in each year using the chain-weighted method. (c) (1 point) Calculate the GDP deflator and the inflation rate. (d) (4 points) Suppose that cars in 2020 are much better than cars in 2019; One car in 2020 is equivalent to 1.2 cars in 2019. How does factoring in the quality adjustment change your calculations in parts (a) to (c)

On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?

How did the contribution of the goods producing sector to gdp growth change between 2010 and 2011 a. it fell by 0.3%. b. it fell by 2.3%. c. it rose by 2.3%. d. it rose by 0.6%. the answer is b

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.