Answer:
24 years
Explanation:
In a situation where a country GDP which is fully known as GROSS DOMESTIC PRODUCT was been expected to increase or grow at a rate of 3% per year or per annual which means that it will actually takes up to 24 years for a country economy living standard to double .
Therefore the numbers of years it would take for a country living standards to double will be 23 years.
Answer:
c. 5
Explanation:
L Q MPL (ΔinQ/ΔinL) VMPL
4 52
5 60 8 80
6 66 6 60
7 70 4 40
8 72 2 20
Note: Labour hired per day = L, Total product = Q, Marginal Product of labor=MPL, VMPL =Price*MPL
A firm will maximize the profit by increasing the number of labor as long as VMPL is higher than or equal to the wage rate. In this case, we observe that VMPL ($80)>wage rate ($75) for L=5 but VMPL ($60)<wage rate ($75) for L=6. So, the optimal number of labor to be hired is 5.
Answer:
business, management, and administration cluster
Explanation:
Business Management and Administration Career Cluster emphases on careers in planning, organizing, directing, and evaluating business functions.
Car or vehicle should be the answer or try automotive transport
