The chart below gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2001 as the base year. Year 2000 2001
Price Quantity Price Quantity
Ice Cream $7.00 600 $3.00 400
Blue Jeans $70.00 20 $20.00 90
Laptops $300.00 5 $300.00 5
2000 nominal GDP = $
2001 nominal GDP = $
2000 real GDP = $
2001 real GDP = $

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:

Martha entered into a contract with terry, an art dealer. according to the contract, terry was to supply 18 th century artifacts to martha for the play she was directing, and martha was ready to pay $50,000 for this. another director needed the same artifacts and was ready to pay $60,000. terry decided not to sell the artifacts to martha. in this case, the court may order terry to: