1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
serg [7]
4 years ago
10

Assume real per capita GDP in West Springfield is $10,000 while in East Vice City it is $2,500. The annual growth rate in West S

pringfield is 2.33%, while in East Vice City it is 7%. How many years will it take for East Vice City to catch up to the real per capita GDP of West Springfield?
Business
1 answer:
kicyunya [14]4 years ago
4 0

Answer:

31 year will be taken

Explanation:

given data

real per capita GDP P1 = $10,000

East Vice City P2 = $2,500

annual growth rate r1 = 2.33%

East Vice City r2 = 7%

solution

we get here no of time period in year that is express here as

P1 \times (1+r1)^t = P2 \times (1+r2)^t     ........................1

put here value and we will get

10000 × (1+0.0233)^t   =  2500 ×  (1+0.07)^t  

take ln both side we get

ln ( \frac{10000}{2500} ) = t × ln ( \frac{1.07}{1.0233} )

1.386294 =  t × 0.04462

t = 31.068

time = 31 year

You might be interested in
Monetary neutrality means that a change in the money supply can cause _______
Kaylis [27]

Answer: does not change real variables.

Explanation:

Monetary Neutrality is the idea that a change in the money stock affects only nominal variables in the economy like wages, prices, and exchange rates, and has no effect on real variables, like real GDP, employment, and real consumption.

When money is neutral and the velocity is stable, a rise in money supply will create a proportional increase in the price level and the nominal output.

6 0
4 years ago
Which best describes the reason situational leadership is so practical for managers to use?
steposvetlana [31]
Situational Leadership as a theory was developed by Dr. Paul Hersey in the late 1960s which aims to give further understanding between the leaders and its members. The fore cores of the theory are to ‘Diagnose’ (knowing the situation), ‘Adapt’ (Change the behaviors of the members in the level of the situation), ‘Communicate’ (letting the members understand the situation) and ‘Advance’ (further the developments). This is of course very helpful as its gives the leaders (managers) the opportunity to adjust themselves according to the situation. <span> </span>
5 0
3 years ago
The following items may appear on a bank statement: 1. NSF check 2. EFT Deposit 3. Service charge 4. Bank correction of an error
stealth61 [152]

Answer:

1. NSF check

- Appears on the Bank Statement as: Debit Memo

- Decreases the Balance of the Company's Bank Account

2. EFT Deposit

- Appears on the Bank Statement as: Crediit Memo

- Increases the Balance of the Company's Bank Account

3. Service charge

- Appears on the Bank Statement as: Debit Memo

- Decreases the Balance of the Company's Bank Account

4. Bank correction of an error from recording a $300 deposit as $30

- Appears on the Bank Statement as: Debit Memo

- Increases the Balance of the Company's Bank Account

7 0
3 years ago
Given the pork supply function Q = 178 + 40p - 60p_h. how does the supply function, Q = 88 + 40p. change if the price of hogs in
aleksandrvk [35]

Answer:

Explanation:

The supply function of pork Q = 178 + 40p - 60p_h

When the price of hog is 1.50:

Q = 178 + 40p - 60(1.50)

= 178 +40p -90 = 88+40p

When the price of hog increases to 1.90:

Q = 178 + 40p - 60(1.90)

= 178 +40p - 114 = 64+40p

8 0
3 years ago
Why can driving on rural roads can be even more dangerous than on city streets?
qwelly [4]
The correct answer is "letter c<span>.These are often narrow, two-lane roads with no physical barrier separating oncoming traffic."

In rural provinces or places, there are less developments done in their roads, since the people living in rural areas, they seldom use cars. Which is why roads are less developed, which is why driving on rural roads are considered to be dangerous and the driver should always be cautious with his or her surroundings, because the rural road are different from the urban ones.</span>
4 0
4 years ago
Other questions:
  • Which market structure is LEAST LIKELY to occur in a nation with some government involvement in the economy and strongly enforce
    12·1 answer
  • Your friend hopes to expand her business to multiple locations. It would be best for her to create a1. limited liability company
    9·1 answer
  • Wolfpack Construction has the following account balances at the end of the year.
    15·1 answer
  • The Turtle Society, a nongovernmental not-for-profit entity (NFP), receives numerous contributed hours from volunteers during it
    6·1 answer
  • Consider how Hunter Valley, a popular ski resort, could use capital budgeting to decide whether the $9 million River Park Lodge
    10·1 answer
  • A _________ is generally considered an appreciating asset because it will _________ in value over time.
    9·1 answer
  • Explain some of the different categories of “new products” CVS is offering.​
    12·2 answers
  • Equipment which cost $446,000 and had accumulated depreciation of $248,000 was sold for $222,000. This transaction should be sho
    11·1 answer
  • The very first step in developing a social marketing plan involves ______________. group of answer choices
    5·1 answer
  • why is allowance for doubtful accounts credited, instead of accounts receivable, when recording the adjusting entry for bad debt
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!