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1. A restaurant with $1 million in annual sales has costs of $350,000 in wages, $450,000 for food, utilities and other supplies, and $100,000 in rent.
a. How much is this restaurant contributing to GDP?
b. How much is this restaurant contributing to each component of national income?
c. Suppose the restaurant raises its prices by 10 percent. If it sells the same amount of food at the new higher price and none of its costs change, how do the answers to (a) and (b) changes?
d. Suppose that, in addition to the other costs, the restaurant's building and kitchen equipment depreciates by $50,000 per year. Does that affect GDP, or some other aggregate?
question 1suppose x n30 144 and wn40225.a. if x and w are
1. distinguish between the micro and macro views of marketing. then explain how they are interrelated if they are.2.
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