Table 12-21 -Refer to Table 12-21

question 86

Essay

Table 12-21
$$\begin{array} {c} \quad \quad \quad \quad \quad \quad2011 \quad \quad \quad \quad 2013\\\begin{array} { | l | c | c | c | c | } \hline { \text { Product } } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Hats } & 200 & \$ 20 & 250 & \$ 21 \\\hline \text { French fries } & 2,000 & 1 & 2,300 & 2 \\\hline \text { Digital cameras } & 40 & 200 & 50 & 140 \\\hline\end{array}\end{array}$$
-Refer to Table 12-21.Consider the following data for a simple economy: Calculate nominal GDP and real GDP for 2013,using 2011 as the base year.Show your work.

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Definitions:

Market Rate Of Return

The average rate of return on investment that is expected by investors in the market, typically based on historical data.

Replenishes

Refers to the process of filling up or restoring inventory or supplies to their optimal levels.

Optimal

The most favorable condition or level of efficiency that a system, selection, or outcome can achieve under given constraints.

Collection Float

The time interval between when a payment is deposited and when funds become available in the company’s account, affecting cash flow.