A small economy produces three main products, products A, B, and C. The following table indicates the prices and quantities for the three products from 2013 to 2016. Product A Product B Product C Year Price Quantit Price Quantit Price Quantit 57.5 60.5 4 63.5 8 66 12 5.5 2013 2014 2015 2016 24.75 4 17 27.5 13 10 16 4 10 17 14 Using 2013 as the base year, calculate the real GDP for the years 2014.
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- Mr Adam was purchasing 1 kg daal and 6 kg rice. This week Mr Adam is purchasing 2 kg daal and 5 kg rice. What can you conclude from the given information? Discuss all conclusions in detail.In a simple economy, calculate gross domestic product using the following figures. (Not all variables need to be used, an extra variable may be given.)a. Calculate by spending approach.b. Calculate with income approach. Consumption 9500 Investment 3000 Wear 1750Profits 2400Exports 850Payments to employees 11500Government purchases 3200 Direct Taxes 1200Savings 1600 Imports 900Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600
- Q1. Draw a circular flow diagrm. Identify the parts of model that corresponds to flow of goods and services and the flow of dollar for each of the following activites. Ahmed earns Rs 200 per houir working in a factory Ayesha spend Rs1500 for a pizza “Eat More” bakery pay Rs 2500 for the rent on its shop Maya purchases a new pair of earrings for Rs 250Roberto is a senior citizen who consumes food and health care. When he retired in 2002, he consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $64. However, in 2012, the price of a meal is $11 and the price of a medical checkup is $278. As a result, Roberto consumes 100 meals and 2 medical checkups per month. Calculate a Laspeyres cost-of-living index for Roberto using 100 as the base in 2002. In particular, the Laspeyres index for 2012 is nothing. (Enter your response rounded to two decimal places.)S Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: - 1.5; Pawpaw: -2.5; Pineapples: - 0.6. You have been asked to evaluate the planned price increases. a. Comment on the planned price changes. b. Would a 10% price reduction have been better for some or all of the products? Question DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40.…
- 1. DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: - 1.5; Pawpaw: -2.5; Pineapples: - 0.6. You have been asked to evaluate the planned price increases. Comment on the planned price changes. Would a 10% price reduction have been better for some or all of the products?3. Rubax, a U.S. manufacturer of athletic shoes, estimates the following linear trend model for shoe sales: Qt = a+bt+c1D1+c2D2+c3D3Where, Qt = sales of athletic shoes in the t-th quartert = 1, 2, . . . . , 28 [2011(I), 2011(II), . . . . , 2017(IV)]D1 = 1 if t is quarter I (winter); 0 otherwiseD2 = 1 if t is quarter II (spring); 0 otherwiseD3 = 1 if t is quarter III (summer); 0 otherwiseThe regression analysis produces the following results: Is there sufficient statistical evidence of an upward trend in shoe sales? explain Do these data indicate a statistically significant seasonal pattern of sales for Rubax shoes? If so, what is the seasonal pattern exhibited by the data? Using the estimated forecast equation, forecast sales of Rubax shoes for 2018(III) and 2019(II).DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: -1.5; Pawpaw: -2.5; Pineapples: -0.6. You have been asked to evaluate the planned price increases. a. Comment on the planned price changes. b. Would a 10% price reduction have been better for some or all of the products?
- dont chatgpt i will 3 upvotState whether the following statements are true or false, then explain.(a) Buying a Japanese-brand vehicle that was made in Texas would harm the U.S. GDP.(b) Ken is not a U.S. citizen but teaches at the University of Chicago. The salary of his servicecannot be counted towards the U.S. GDP.(c) A $20,000 car was produced and sold to a car dealer in 2019, but it was sold to final consumerin 2020 for $20,000 – then $20,000 is counted to the GDP of 2020.Mika eams $340 per week which she spends entirely at the grocery store. purchasing either food or akohol The price of food is $1Aunit, while the price of alcohal is $4/unit. IT Mika receives an additional S65/week in todd stamas thut can be used to buy anyttiog at the grocery store so, this money could be used to buy food and alcoho what is the etical coortinate of the vertical tercept of Mika's budget constraint if she were to graph quantity of food on the horizental as and quantity of alcohol on the vertical aist (Note The amwermay not be a whole number, so round to the nearest hundredth