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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

brainly.com/question/1383956

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In which one of the following instances is rivalry among competing sellers notmore intense?
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Explanation:

The more the number of players in an industry the more it gets congested and especially for the competing sellers. The decision for increasing or reducing price is met by follower firms to do the same thing. It gets less competitive because you know all the players in the industry would be following the same practices and doing the same thing.

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3 years ago
Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of 3/19, net 60. Mr. Warner never takes t
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Answer:

35.92%

Explanation:

The computation of cost of not taking the cash discount is shown below:-

Discount percentage ÷ (100 - Discount percentage) × (360 ÷ (Full Allowed Payment Days - Discount Days))

= 3% ÷ 97% × 360 ÷ (50 - 19)

=  3% ÷ 97% × 360 ÷ 31

=  0.03093 × 11.61290

= 0.359187

= 35.92%

Therefore for computing Mr. Warner's cost of not taking the cash discount we applied the above formula.

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How would inventions such as the smart fitting room affect retail jobs???
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The reason that interest rate risk is greater for ____ term bonds than for ____ term bonds is that the change in rates has a gre
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The reason that interest rate risk is greater for <u>long</u>-term bonds than for <u>short</u>-term bonds is that the change in rates has a greater effect on the present value of the <u>Par Value</u> than on the present value of the <u>Coupon</u>.

<h3>What is a Long-term Bond?</h3>

Long-term bonds are investments that span a maturity term of at least 10 years and up to 30 years.

They usually pay a higher interest rate than the short-term bonds which span between a year and three years.

See the link below for more about long-term bonds:

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