Answer:
2. An outward shift of the production possibilities curve.
Explanation:
Economic growth can be defined as an increase in the output of goods produced in an economy or increase in what an economy produces using its scarce resources.
Simply put it is an increase in production capacity.
The production possibility curve shows all possible combinations of two products that can be produced with a given level of resources.
When there is increase in capacity there is increase in number of goods that can be produced. For example if resources of 50 units can produce 15 units of A and 20 units of B. An increase of resources to 70 units will be able to produce more let's say 20 units of A and 23 units of B.
This results in shift of PPP outward as illustrated in the attached diagram.
Answer:
True or false When a law practice receives a payment from a client for services rendered the transaction will be recorded in the business cash payments journal.
Explanation:
It is true!!!!!!
Answer:
8.3%
Explanation:
The rate of unemployment is calculated by dividing the number of unemployed people by the total labor force multiplied by 100.
i.e., unemployment rate = unemployed/ labor force x 100.
the labor force = employed people + unemployed people
For Utopia, labor force is 55 + 5 = 60
Unemployment rate
= 5/60 x 100
=0.0833 x 100
=8.3%
Answer:
5.52%
Explanation:
Cost of Furniture= $150,000
discount= 5.25% (120-day note)
To get the exporter's true effective annual financing cost, we have:
=(150,000/147,375) 365/120-1 = 5.52%
Therefore, the exporter's true effective annual financing cost is 5.52%