« previous next »

Author Question: Gross domestic product is calculated by summing up A) the total market value of goods and ... (Read 67 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
Gross domestic product is calculated by summing up
 
  A) the total market value of goods and services in the economy.
  B) the total quantity of goods and services produced in the economy during a period of time.
  C) the total quantity of goods and services in the economy.
  D) the total market value of final goods and services produced in the economy during a period of time.

Question 2

The following table contains the actual prices charged by four Web sites for the PlayStation 4 game Call of Duty; Black Ops III in November 2015.
 
  Target 59.99
  Walmart 59.00
  Best Buy 59.99
  GameStop 59.99
 
  Explain whether the information in this table contradicts the law of one price.


dellikani2015

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The data in the table does not seem to contradict the law of one price, since the price of this game at Walmart is very close to the price at Best Buy, GameStop, and Target (only 0.99 less).


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Worldly Goods Worldly Goods
Ecosystem goods and services and monetary values Ecosystem goods and services and monetary values
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Agricultural Land as a Fraction of Total Wealth in the United Kingdom Agricultural Land as a Fraction of Total Wealth in the United Kingdom
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library