Sales Revenue of Firm X Was $10 Million in 2007

question 31

Short Answer

Sales revenue of firm X was $10 million in 2007. In 2010, the same firm reported higher sales revenue of $15 million. The producer price indices for 2007 and 2010 were 130 and 135.
A) Compute the nominal increase in sales revenue between 2007 and 2010.
B) Compute the real increase in sales revenue between 2007 and 2010.

• A) Compute the nominal increase in sales revenue between 2007 and 2010.
• B) Compute the real increase in sales revenue between 2007 and 2010.

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Definitions:

Native American

Indigenous peoples of the United States, including American Indians, Alaska Natives, and others, each with their own distinct cultures, languages, and histories.

Personal Integrity

Adherence to moral and ethical principles; the quality of being honest and having strong moral uprightness.

Individual Achievement

Personal success or accomplishment attained through one's own skills, effort, or qualities, often in educational or professional contexts.

American Indian

Members or descendants of indigenous peoples of the territories that are now the United States, recognized as sovereign nations within the country.