Becky Bought a New Apple Computer for $1,205

question 29

Multiple Choice

Becky bought a new Apple computer for $1,205. The purchase price included a 6% sales tax. What is the actual selling price of the computer?

• A)$1,132.08
• B)$1,277.30
• C)$1,200.00
• D)$1,136.79
• E)None of these

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Definitions:

Recessionary Gap

A scenario in which the actual GDP of an economy falls short of its potential GDP, showing that resources are not being fully utilized.

Aggregate Demand

The total demand for all goods and services within an economy.

Real GDP

The total value of all goods and services produced by an economy over a specific time period, adjusted for inflation, reflecting the true economic output.

Price Level

The economy’s aggregated price level for its full gamut of goods and services produced.