7. Assume the below table includes all transactions in a country that produces potatoesand imports Ketchup. The country's GDP isItemPriceQuantityPotatoes (domestic consumption)1500Potatoes (export)1500Ketchup(imported;domestic 2100consumption)A. 700В. 800С. 1,000D. 1,2008. In a country where apples are produced and exported but not consumed, a changein the price of apples will affectA. the CPI but not the GDP deflator.B. the GDP deflator but not the CPI.C. both the CPI and the GDP deflator.D. neither the CPI nor the GDP deflator.9. Structural unemployment occurs becauseA. it takes time for workers to search for the jobs that best suit their tastes and skills.B. minimum wage laws force the wages to remain above their equilibrium levels.C. some people are economically inactive.D. the number of jobs available in some labour markets is insufficient to provide ajob for everyone who wants one.

GDP = Domestic Consumption + Investment + Government spending + (Exports - Imports) GDP = Domestic…

7. Assume the below table includes all transactions in a country that produces potatoes and imports Ketchup. The country's GDP is Item Price Quantity Potatoes (domestic consumption) 1 500 Potatoes (export) 1 500 Ketchup (imported; domestic 2 100 consumption) А. 700 В. 800 С. 1,000 D. 1,200

7. Assume the below table includes all transactions in a country that produces potatoes and imports Ketchup. The country's GDP is Item Price Quantity Potatoes (domestic consumption) 1 500 Potatoes (export) 1 500 Ketchup (imported; domestic 2 100 consumption) А. 700 В. 800 С. 1,000 D. 1,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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