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Suppose the median household earned $9,242 in 1976 and $52,624 in 2016. During that time, also suppose the CPI rose from 45.6 to

Mekhanik [1.2K]

Answer:

a) 469.40%

b) 18.15%

Explanation:

a)

Total nominal growth rate = $(\frac{\textup{Earned income in 2016}}{\textup{Earned income in 1976}}-1)\times100\%$

thus,

Total nominal growth rate = $(\frac{\textup{52,624}}{\textup{9,242}}-1)\times100\%$

= 469.40%

b) Total real growth rate = $(\frac{\textup{Real earned income in 2016}}{\textup{Real earned income in 1976}}-1)\times100\%$

now,

Real earned income in 1976 = $\frac{\textup{Earned income in 1976}}{\textup{CPI in 1976}}$

= $\frac{\textup{9,242}}{\textup{45.6}\%}$

= $20,267.54

and,

Real earned income in 2016 = $\frac{\textup{Earned income in 2016}}{\textup{CPI in 2016}}$

= $\frac{\textup{52,624}}{\textup{219.75}\%}$

= $23,947.21

Therefore,

Total real growth rate = $(\frac{\textup{23,947.21 }}{\textup{20,267.54 }}-1)\times100\%$

= 18.15%

4 0

2 years ago

Surrealists emphasized _____________ instead of ____________.

liberstina [14]

The correct answer is irrationalism and rationalism. It is because surrealist are cultural movement in which they are likely to reunite cultures or different races in means of having to have unity, that’s why they are likely to focus more on irrationalism than rationalism.

3 0

3 years ago

Read 2 more answers

Alex Timbers, a wood supplier, receives an order of 10 wooden logs from a furniture manufacturing company. The client brief ment

Marianna [84]

Answer:

D. Incomplete

Explanation:

The information supplied by the furniture manufacturing can be described as incomplete because it fails to state how big or how small the wooden logs should be to serve the purpose of what it is wants to be used for. It only states the kind of quality that the wood should be and that it should be of the same size.

5 0

3 years ago

Charlotte and Regina are opening a new business venture to sell gourmet cupcakes. One of the important characteristics in starti

AnnZ [28]

Answer:

a. limited liability for members.

Explanation:

One of the important if not the most important characteristics in starting a limited liability company is limited liability for members, since the whole company structure revolves around this aspect. This refers to the shareholders being responsible for any debt incurred by the company, but only to the extent of their company shares.

6 0

3 years ago

Concord Company had bonds outstanding with a maturity value of $311,000. On April 30, 2017, when these bonds had an unamortized

Dmitrij [34]

Answer:

Redemption of Old Bonds

4-30-17 Bonds Payable $311000 Dr

Loss on Bond Redemption $26550 Dr

Discount on Bonds Payable $11000 Cr

Cash $326550 Cr

Issuance of New Bonds

3-30-17 Cash $314110 Dr

Premium on Bonds Payable $3110 Cr

Bonds Payable $311000 Cr

Explanation:

Redemption of Bonds Payable

The maturity value for bonds payable is equal to the face value of these bonds. This means that the face value of old bonds was $311000.

The bonds were carrying a discount. Thus, the carrying value of bonds was

Carrying value = Face value - Discount

Carrying value = 311000 - 11000 = $300000

Bonds with a carrying value of $300000 were redeemed at 105% of the face value. The cash paid for redemption is,

Cash paid = 311000 * 105% = 326550

Thus, there was a loss on redemption of = 326550 - 300000 = $26550

Issuance of Bonds Payable

The bonds were issued at 101% of the face value which means they were issued at a premium.

The amount of premium on these bonds is,

Premium = Carrying value - Face value

Premium = 311000 * 101% - 311000

Premium = $3110

3 0

3 years ago