Answer:
5%
Explanation:
Output per capita grows at a constant rate.
Therefore, we can calculate the level of income per capita in any two periods and find the corresponding growth rate. For example,
y1 = 100x(1 - 0.05)x(1 +0.05) = 99.8 and
y2 = 100x(1 - 0.05)x(1 + 0.05)2 = 104.7.
The growth rate of per capita output in period 2 is then (104.7-99.8)/99.8=5%.
Answer:
The candidate has given a FALSE statement.
Explanation:
Production Possibility Frontier is graph representing product combinations, that an economy can produce given resources & technology.
PPF points are based on an assumption that resources & technology are fully efficiently utilised. So, quantity of one good can be increased by reducing quantity of other good - given same resources & technology and hence the inverse (negative) relationship between goods make PPF downward sloping.
Therefore, given negatively sloping PPF & economy at a point on PPF : Production of either good 'Civilian goods' or 'military goods' can be increased by reducing the production of the other good. Given same resources & technology & production on PPF , production of two goods can't be increased simultaneously.
This is due to Inflation.
As time passes, prices of commodities, labor, and services tends to increase.
In order for a healthy economy to grow, country's try to limit inflation and keep it at a minimal.
However, deflation, which is the exact opposite is avoided as it can hamper in the overall economic growth of the country.
The example of Pizza hut shows how, over such a long period of time, the prices of services and commodities can increase so much.
We are asked to solve for the interest during the year given that it is compounded monthly, we are given with the formula A = P(1+r)^n. The solution is shown below;
A = P (1+r)^n
A = $5,000 (1+ 3.5/12)^(12*1)
A = $5,000 (1.000292)^12
A = $5,177.84
Hope this helps!
Answer:
Cost of production report
Explanation:
Cost of production report can be defined as a summary of the amount of data that is produced and the huge debt that has been accumulated by each producing department. It also functions as a source document which is required for passing accounting entries at the end of a costing period.
Cost of production report determines the periodic total as well as the unit costs.
A cost of production report shows the:
1) Materials and labor used in the producing department.
2) Unit cost incurred by the department.
3) Overall costs and unit costs incurred by the department at the end of the operation.
4) The amount of costs moved to a completed product storage place.
5) Total unit costs derived from the previous department.