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Irina18 [472]
2 years ago
9

Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every:

Business
1 answer:
asambeis [7]2 years ago
8 0

Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every 70/2.3 = 30.43 years.

<h3>What is Gross Domestic Product (GDP)?</h3>

The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year).

GDP Growth Rate:

  • The GDP growth rate compares the most recent quarter or year to the preceding one and represents the percentage change in real GDP (GDP adjusted for inflation) from one period to the next.
  • A positive or negative number may be used (negative growth rate, indicating economic contraction).

GDP per capita:

  • By dividing nominal GDP by a nation's entire population, one can get GDP per capita.
  • It conveys the nation's average economic output (or income) per person.
  • The population figure corresponds to the year's median (or mid-year) population.

The price deflator, a statistical tool, is used to convert nominal GDP to constant prices.

To know more about Gross domestic product (GDP), here

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ABC Company sells 300 machines for $5000 each in the current year. Each machine carries a one-year warranty. Experience from the
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Answer:

the journal entry to record warranty expense is:

Dr Warranty expense 30,000

    Cr Warranty liability 30,000

the journal entry to record actual expenses related to product warranties:

Dr Warranty liability 10,000

    Cr Cash (or inventory, or wages payable) 10,000

Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.

7 0
3 years ago
Some spending and taxes increase or decrease with the business cycle. This event often has an effect on the economy that is simi
spayn [35]

Answer: Automatic stabilizers

Explanation:

 The automatic stabilizers are one of the type of fiscal policy that which are design for the economical fluctuation. It is mainly authorized by the government and also by the policy makers.

The automatic stabilizer is also known as the economical policy and the activity is done without any government intervention. In this system, the income and taxes are get decreased or increased in the business cycle.

Therefore, Automatic stabilizers is the correct answer.

6 0
3 years ago
Gipple Corporation makes a product that uses a material with the quantity standard of 7.3 grams per unit of output and the price
noname [10]

Answer:

C) $300 U

Explanation:

Gipple Corporation

Material Quantity Variance = (Actual Quantity Used * Standard Unit Cost )-

( Standard Quantity Used * Standard Unit Cost )

Material Quantity Variance =(AQ* SP) -(SQ*SP)

Material Quantity Variance = (24,870* 6)- ( 7.3* 3400 *6)

Material Quantity Variance = (24,870* 6)- (24,820* 6)

Material Quantity Variance = 149220 - 148920

Material Quantity Variance = $300 Unfavorable

As actual quantity is greater than standard quantity it is unfavorable.

4 0
3 years ago
Ahmad owns an apartment building and has recently had to lower the rent he charges, not only to attract new tenants but also to
Yanka [14]

Answer: Interest rate risk

Explanation:

Interest rate risk is described as the potential for investment loss which result from a change in interest rates. The increase in interest rate declines tell value if a bond or other fixed-income investment, the change that occurs in these bond price is known as duration. Generally, it is the risk that arises for bond owners from fluctuating interest rates. The interest rate risk of a bond depends on how sensitive it's price is to interest rate changes in the market

5 0
3 years ago
Suppose that the U.S. government decides to charge cola producers a tax. Before the tax, 35,000 cases of cola were sold every we
galben [10]
Mark brainlest please


Answer:

The amount of tax will be $3
Tax Burden on consumer is $2
Tax burden on producer ( in case you want to know) will be $1

Check the image below.

Tax is equal to the difference between the price actually paid by the buyer and the price actually received by the seller. Tax= Price paid by buyer-Price received by seller Tax= $8-$5 Tax = $3 Thus the tax computed is $3 per case.

3 0
3 years ago
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