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2 years ago

Which factor is not generally viewed by economists as critical to economic growth?

Business

1 answer:

Varvara68 [4.7K]2 years ago

7 0

access to large amounts of natural resources is not generally viewed by economists as critical to economic growth

What factors affect economic growth?

Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.

What is economic growth ?

Economic growth is defined as: an increase in an economy's production capacity or potential GDP. The rate of economic growth is the key determinant of. changes in a society's standard of living—which is commonly measured using real GDP per capita.

What is economic growth determined by?

Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income

Learn more about economic growth :

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Erosion can best be explained as the:

Tems11 [23]

Answer:

A. loss of current sales due to a new project being implemented.

Explanation:

In business, erosion takes place when a new product or project competes with another product or project from the came company. This "internal" competition reduces the revenues and benefits from existing products or projects. It is basically a form of business cannibalization, where the left arm takes away from the right arm. E.g. newer smartphone models decrease the sales revenue from existing (older) models.

8 0

3 years ago

Real per capita GDP in Taiwan in 1961 was about $500, but it doubled to about $1000.00 by 1981. a. What was the average annual e

aliya0001 [1]

Answer:

the average annual economic growth rate in Taiwan from 1961 to 1981 was 41.42%

Explanation:

Hi, we need to use the following formula.

$FV=PV(1+r)^{t}$

Where:

FV = GDP in 1981 ($1,000)

PV = GDP in 1961 ($500)

r = growth rate

t = years from 1981 to 1961 (20 years)

So, it should look like this:

$1,000=500(1+r)^{20}$

Now, we solve for "r"

$\frac{1,000}{500} =(1+r)^{20}$

$2=(1+r)^{20}$

$\sqrt[20]{2} -1=r$

$r=0.4142$

So, the growth rate of Taiwan´s GDP is 41.42%

Best of luck.

5 0

3 years ago

When the demand curve for a good is unit elastic, raising the price of the good by 25 percent will change the revenue of the fir

san4es73 [151]

Answer: 0%

Explanation:

Elasticity measures the change in demand resulting from a change in price. The law of demand holds that when prices increase, quantity demand would decrease and elasticity is meant to show the magnitude of this change.

A unit elastic good means that prices and quantity demanded change by the same amount. This means that for a unit elastic good, if the price change is a 5% increase, the quantity demanded will decrease by 5%.

In terms of revenue, if the price increases by the same amount that quantity demanded decreases, the effects will cancel out so there will be no revenue effect.

4 0

3 years ago

On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudou

Naddika [18.5K]

Answer:

The correct answer is B. (3,375) = NA + (3,375) NA − 3,375 = (3,375) NA.

Explanation:

The question asks for the effect of the adjusting entry on December 31, Year 1, that is, the creation of the 3% allowance for uncollectible debts.

Allowance for bad debts = 3% x $112,500 = $3,375

Its effect is as follows.

Assets: Since accounts receivable (an asset) is reduced, assets are reduced by $3,375.

Liabilities: No effect.

Equity: As Equity = Assets - Liabilities, the net effect is to reduce the equity by $3,375.

Revenue: No effect.

Expenses: Sales worth $3,375 is written off as an expense. Hence, total expenses increase by $3,375.

Net increase: As revenue remains unchanged while expenses increase by $3,375, the net increase is a negative of $3,375.

Cash flow: No effect, because there is no exchange of cash since the amount of $3,375 was never received by Loudoun Corporation.

These entries correspond to option B. which is thus the correct answer.

8 0

3 years ago

Return on investment (ROI) information can help you manage a client's campaign by helping you determine how to:

jeyben [28]

Answer:

The correct answer to the following question is option D) all of the listed answers are correct .

Explanation:

ROI ( which is know as return on investment ) is a tool which can be used to manage a client's campaign by helping him in determining what would be the optimal budget for him, how would a client optimize its advertisement texts and the keywords. The ROI here would be used to measure conversion and through this conversion tracking tool would help in determining profitability in advertisement or keywords.

7 0

3 years ago