Business, 21.11.2019 23:31 Tetto

Robinson crusoe is a castaway, stranded on a lonely island with only a hand full of resources. to stay alive he picks off apples, grows barley, and washes it down with some cool coconut milk. in his leisure time he carves wooden drumsticks (to jam on rocks) and earplugs for whenever he gets tired listening to himself. some time, he starts recording his activities to bring structure to his outcast life. use the table of the prices and quantities robinson documented in 2017 and 2018 to make an assessment on the state of his economy. assume that 2017 is the base year. goodsprices2017quantities 2017prices2018quantities 2018apple110002900barley24001700coc onut32002250drumsticks10502010earpl ugs5201010a) compute the inflation rate in 2018. show your work. b) what is nominal gdp (ngdp) in 2017 & 2018? compute ngdp growth as well. show your work. c) what is real gdp (rgdp) in 2017 & 2018? note that gdp deflator2017 = 100 & gdp deflator2018 = 103.125. compute rgdp growth as well. show your work. d) explain your results to robinson. especially emphasize the distinction between ngdp and rgdp and why it makes sense to differentiate between the two. make sure to relate your arguments to your calculations above. e) in real-life, would production contributions from outcasts such as robinson crusoe who live off the grid be counted in gdp? why or why not? (3 sentences max.)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 03:00

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Answers: 1

Answer

Business, 22.06.2019 04:10

An outside manufacturer has offered to produce 60,000 daks and ship them directly to andretti's customers. if andretti company accepts this offer, the facilities that it uses to produce daks would be idle; however, fixed manufacturing overhead costs would be reduced by 75%. because the outside manufacturer would pay for all shipping costs, the variable selling expenses would be only two-thirds of their present amount. what is andretti's avoidable cost per unit that it should compare to the price quoted by the outside manufacturer?

Answers: 3

Answer

Business, 22.06.2019 19:30

Adisadvantage of corporations is that shareholders have to pay on profits.

Answers: 1

Answer

Business, 22.06.2019 20:00

With the slowdown of business, how can starbucks ensure that the importance of leadership development does not get overlooked?

Answers: 3

Answer

You know the right answer?

Robinson crusoe is a castaway, stranded on a lonely island with only a hand full of resources. to st...