Macroeconomics question, economics, Microeconomics

Assignment Help:
In June 2009, Textile co. (a domestically located firm) purchased 1000 yards of cloth from India (a foreign country) for $1000. Textile co. hired Elizabeth and paid her $5000 to sew 200 dresses. Textile co. sells the completed dresses to Lacy’s Boutique for $10,000 (that’s $50 per dress) in October 2009. The manager at Lacy’s marks each dress at $150 apiece (assume no sales tax).


Suppose all the of the dresses at Lacy’s are sold. Calculate contribution to domestic GDP in 2009 as a result of the production and sale of the dresses.

Related Discussions:- Macroeconomics question, economics

Explain and illustrate the concept of opportunity cost, Question 1: (a)...

Question 1: (a) Discuss the adjustment to an increase in demand for a perfectly competitive market in the: (i) Short run (ii) Long run (b) How would the same industry

Explain about contingent valuation, Q. Explain about Contingent valuation? ...

Q. Explain about Contingent valuation? Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionna

Private and social benefits, Private and Social Benefits Private benef...

Private and Social Benefits Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individua

Strategies and policies for administrative reforms, STRATEGIES AND POLICIES...

STRATEGIES AND POLICIES FOR ADMINISTRATIVE REFORMS: As stated in a United Nation's Publication, following strategies and policies are necessary to bring about administrative i

Break-even point, How to I calculate the break-even point per unit in dolla...

How to I calculate the break-even point per unit in dollar amount and then determine whether there will be a profit or loss? Such as if the fixed costs were $75000. The variable co

What is a statutory demand, The word length should be between 1200 to 1600 ...

The word length should be between 1200 to 1600 words. Please submit a hard copy with a coversheet to the lecturer at the commencement of class in Week 8. Find and read the Judgm

Fresnel approximation of a spherical wave, Show that when a plane wave is t...

Show that when a plane wave is transmitted through a thin lens of focal length f in the direction parallel to the optical axis of the lens, its converted into a paraboloid wave (th

Explain about real wages, Q. Explain about Real Wages? Real Wages:Value...

Q. Explain about Real Wages? Real Wages:Value of wages, adjusted for level of consumer prices. If nominal value of wages is growing faster than consumer prices, then real wages

What kinds of sustainability questions do raise, What two developments are ...

What two developments are demanding new ways of looking at the economic world in the 21st century?  What kinds of sustainability questions do they raise? Two developments that

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd