Year Cupcakes Envelopes
Price Quantity Price Quantity
(Dollars per cupcake) (Number of cupcakes) (Dollars per envelope) (Number of envelopes)
2012 2 115 5 175
2013 4 150 2 180
2014 1 100 2 160

Use the information from the preceding table to fill in the following table.

Year Nominal GDP Real GDP GDP Deflator
(Dollars) (Base year 2012, dollars)
2012
2013
2014

From 2013 to 2014, nominal GDPdecreased , and real GDPdecreased .

The inflation rate in 2014 was .

Why is real GDP a more accurate measure of an economy's production than nominal GDP?
a. Real GDP is not influenced by price changes, but nominal GDP is.
b. Real GDP does not include the value of intermediate goods and services, but nominal GDP does.
c. Real GDP includes the value of exports, but nominal GDP does not.

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

Which statement best describes entrepreneurship aitmakes people very rich b it relies on large financial investments c it is only possible in the retail industry d it requires creativity and ambition

1. alwaysrain irrigation, inc. would like to determine capacity requirements for the next four years. currently, two production lines are in place for making bronze and plastic sprinklers. three types of sprinklers are available in both bronze and plastic: 90-degree nozzle sprinklers, 180-degree nozzle sprinklers, and 360-degree nozzle sprinklers. management has forecast demand for the next four years as follows: both production lines can produce all the different types of nozzles. the bronze machines needed for the bronze sprinklers require two operators and can produce up to 12,000 sprinklers. the plastic injection molding machine needed for the plastic sprinklers requires four operators and can produce up to 200,000 sprinklers. three bronze machines and only one injection molding machine are available. what are the capacity requirements for the next four years? (assume that there is no learning.)