Ask Question
BusinessBusiness
26 August, 04:23

If real GDP grew at 3.5% last year and prices increased by 3% over the same time period then - the average consumer is better off. - the average consumer is worse off. - the average consumer is unaffected. - the average producer is unaffected. - the average producer is worse off.

+1
Answers (1)
  1. 26 August, 04:52
    0
    the average consumer is better off.

    Explanation:

    The real GDP increases meaning, the nominal icnrease in the GDP was higher than inflation. This means more product were produced, more income was placed into the factors. This makes the consumers better off

    The producers are also benefit from an increase inthe GDP as they produce and sole more units.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If real GDP grew at 3.5% last year and prices increased by 3% over the same time period then - the average consumer is better off. - the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which type of writing is most commonly used in the field of information technology? A. Technical writing B. Creative writing C. Essay writing D. Proposal writing
Answers (1)
One of the reasons the internet may hamper quality democracy is that it
Answers (1)
Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: UnitsPer unit priceTotal Balance, 1/1/18200$5.00$1,000 Purchase, 1/15/181005.30530 Purchase, 1/28/181005.
Answers (1)
Absolute Systems allocates manufacturing overhead based on machine hours. Each connector should require 10 machine hours.
Answers (1)
A company's 2013 year-end balance sheet included the following: Jan. 1 Dec. 31 Accounts Receivable $80,000 $100,000Inventory $60,000 $70,000Prepaid Expenses $100,000 $75,000Accounts Payable $120,000 $100,000 Deferred Revenue $65,000 $95,000 The
Answers (1)
New Questions in Business
Emily has been waiting for a promotion to a management position for almost five years. She notices that men fill most of the higher-level jobs in her company. She suspects she is not being promoted because she is female. What term describes this? A.
Answers (1)
Below are the account balances for Cowboy Law Firm at the end of December. Accounts Balances Cash $ 3,600 Salaries expense 1,300 Accounts payable 1,600 Retained earnings 4,700 Utilities expense 1,100 Supplies 12,000 Service revenue 7,500 Common
Answers (1)
A company has a fiscal year-end of december 31: (1) on october 1, $12,000 was paid for a one-year fire insurance policy; (2) on june 30 the company lent its chief financial officer $10,000; principal and interest at 6% are due in one year;
Answers (1)
Marquese is making 10 pounds of trail mix from raisins and nuts. Raisins cost $3.45 per pound, and nuts cost $7.95 per pound. How many pounds of raisins and how many pounds of nuts should marquese use for the trail mix to cost him $6.96 per pound?
Answers (2)
Ten Pins Manufacturing has 9 million shares of common stock outstanding. The current share price is $81, and the book value per share is $8. The company also has two bond issues outstanding.
Answers (1)
Home » Business » If real GDP grew at 3.5% last year and prices increased by 3% over the same time period then - the average consumer is better off. - the average consumer is worse off. - the average consumer is unaffected. - the average producer is unaffected.
Sign Up Forgot Password?