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lina2011 [118]
3 years ago
6

A country’s real gdp rose from 500 to 550 while its nominal gdp rose from 600 to 770. what was this country’s inflation rate?

Business
1 answer:
Gennadij [26K]3 years ago
5 0
<span>The inflation rate is 16.67%. To find this, we first need to compute the GDP deflator for each year and then we need to calculate the percent change in the GDP deflator. The GDP deflator is given by GDPdef=(nominal GDP/Real GDP)*100. For the first year, the GDP deflator is 120. For the second year it is 140. Percent change is given by [(new value - old value)/old value]*100. Plugging in 140 for the new value and and 120 for the old value, we see get that the percent change is 16.6667. Thus the inflation rate is approximately 16.67%.</span>
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Currently, you owe the bank $9,800 for a car loan. The loan has an interest rate of 7.75 percent and monthly payments of $310. Y
Ostrovityanka [42]

Answer:

It will extend the loan for 15.83 months = 16 more months.

Explanation:

We need to calcualte the difference in time between one option and another:

Original Loan:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C  $310.00

time n

rate 0.0064583 (0.0775annual rate / 12 month per year)

PV $9,800

310 \times \frac{1-(1+0.0064583)^{-n} }{0.0064583} = 9800\\

We rearrenge and solve as much as we can:

(1+0.0064583)^{-n}= 1-\frac{9800\times0.0064583}{310}

(1+0.0064583)^{-n} = 0.79583439

Now, we solve using logarithmics properties:

-n= \frac{log0.795834387096774}{log(1+0.0064583)}

35.47385568

Now we calcualte with the new terms:

C  $225.00

225 \times \frac{1-(1+0.0064583)^{-n} }{0.0064583} = 9800\\

(1+0.0064583)^{-n}= 1-\frac{9800\times0.0064583}{225}

(1+0.0064583)^{-n}= 0.71870516

-n= \frac{log0.718705155555555}{log(1+0.0064583)}

51.30909653

Last step, we solve for the difference:

51.30 - 35.47 = 15.83 = 16 more months

7 0
3 years ago
If a monopolist increases sales from 100 to 101 units of output by lowering its price from $4.00 to $3.99, its marginal revenue
Goshia [24]

Answer:

Marginal revenue is $2.99

Explanation:

A monopoly is defined as a situation where a single supplier determines the price and amount of a good that will be supplied.

Marginal revenue is defined as the additional revenue that is earned from increased unit of sale of a product.

The initial revenue earned is 100 units* $4= $400.

The present revenue is 101 units* $3.99= $402.99

Therefore the additional revenue is 402.99-400= $2.99

8 0
3 years ago
Read 2 more answers
During the current year, Harry, a self-employed accountant, travels from Kansas City to Miami for a seven-day business trip. Whi
irakobra [83]

Answer:

$1,200

Explanation:

during 2019, Harry can deduct:

  • 50% of the costs of meals while on he is on business trips
  • 100% of airfare and other travelling costs
  • 100% of lodging costs while doing business

Harry's deductions = (50% x $200) + (100% x $600) + (100% x $500) = $100 + $600 + $500 = $1,200

Any expenses incurred during vacation are not deductible.

4 0
3 years ago
If a company spends $20 million to install new footwear-making equipment with capacity to produce 1 million pairs of athletic fo
labwork [276]

Answer: 10% or $2,000,000

Explanation:

Seeing as no figures were produced, we will have to do this ourselves.

We will make assumptions which include the following,

Life of the equipment = 10 Years

Salvage value = 0

Those are our 2 assumptions.

In that case then,

The Annual Depreciation will be,

Depreciation = (Cost of equipment - Estimated salvage value) / Estimated useful life

= (20 - 0) / 10

= $2 million

Seeing as 2 million is,

= 2/20 * 100

= 10%

That would mean that annual depreciation costs at that facility will rise by $2 million or 10%.

If you need any clarification do react or comment.

3 0
3 years ago
A revenue tariff is designed to assist more efficient domestic producers, whereas a protective tariff is designed to promote imp
bezimeni [28]

Answer:

False

Explanation:

Revenue tariff means increasing earnings. It will raise government revenue instead of protecting domestic ventures. It is a direct income in the form of tax to obtain from corporate revenues.

On the other hand, protective tariffs are designed to protect domestic producers. It protects local manufacturers by imposing a heavy duty on imported products, which enables the products to become less attractive. Therefore, the aim is to reduce imports.

6 0
3 years ago
Read 2 more answers
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