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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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Why is mobile banking considered riskier than online banking?
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Accounts receivable arising from sales to customers amounted to $100,000 and $70,000 at the beginning and end of the year, respe
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The cash collected from customers = $230,000

Explanation:

The cash collected from customers to be reported on a direct method statement of cash flows is = Net sales + decrease in accounts receivable.

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Decrease in accounts receivable = $100,000 - $70,000 = $30,000

Putting the values into the formula, we can get

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Question: In the event of a robbery, what must you do?

--------------------------------------------------------------------------------------------------------------Answer: In the event of an armed robbery, instruct your staff to remain calm, alert and observant. Panic only heightens the danger involved. Emphasize that their safety and welfare is your primary concern. Money can be replaced, human life cannot. Here are a few tips to help educate and protect your staff in the unfortunate event of a robbery.

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Elizabeth is marketing a new type of picture frame that she invented. She has developed a full identity for the product and want
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Elizabeth should first of all get a trademark on her picture frames so that they will be legally protected from copying by others.

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