"Toys 4 U" has reported the following information on their income statements for the years 2006 through 2010:
1. Compute the gross profit percentage for a. 2012 ________
b. 2011 ________
c. 2010 ________
d. 2009 ________
e. 2008 ________
2. Has the gross profit ratio for "Toys 4 U" improved over time or worsened? Explain your reason.
Definitions:
Real GDP
Real Gross Domestic Product (GDP) measures the value of all finished goods and services produced within a country's borders, adjusted for inflation, within a specific time period.
Price Level
The averaged-out price for the total spectrum of goods and services in the economy.
Nominal Wage
The wage paid to workers stated in current money terms, without adjustment for inflation.
Real Wage
The purchasing power of an individual's income, accounting for inflation and reflecting how many goods and services can be bought.
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