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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Concept explainers

Exchange Rate Risk

It is the possibility that the value of a currency will fluctuate in the future. In the wake of globalization, business establishments have increasingly ventured into international markets. The volume of international trade has prospered excellently in the near past and is expected to be more affluent in the future. The use of exchange-traded derivative financial instruments has been multi-folded to provide for the requirements of various MNCs and offshore potential investors. Most banks and financial institutions have helped integrate the global economies. Our Government has introduced some bold and extreme measures to fulfil the purpose behind the fiscal, industrial, and monetary policies. The enactment of GST is a huge step towards streamlining the taxation system of the country. Owing to Covid-19, this aspect of corporate risk management has become critical.

Question

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)
A. 700
В. 800
С. 1,000
D. 1,200
8. In a country where apples are produced and exported but not consumed, a change
in the price of apples will affect
A. 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 because
A. 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 a
job for everyone who wants one.

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