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2 years ago

What is economic growth

2 answers:

5 0

Economic growth is best defined as an improvement in real GDP per capita, which essentially refers to the value of all of the goods and services produced in a country per year divided by its population.

The reason why economists use this metric is that it is easy enough to calculate and it reflects the standard of living with relative accuracy. In particular, it is adjusted for metrics such as population (if the same amount of goods are split between more people, each person doesn't have as much) and inflation (even if people are making more money than before, it doesn't help them if that money is worth less).

However, it is not perfect--GDP omits household production, which is when you produce goods and services in your own home without any formal payment (e.g. you cleaning your house, your parents cooking a meal, etc), trades conducted off-the-books (e.g. bartering), and illegal/black-market production. Moreover, real GDP per capita disregards income inequality--if a few people hold all the wealth, the country is worse off than if the wealth is distributed roughly evenly.

goblinko [34]2 years ago

3 0

Hey there!

(economic) growth is when the country or the city is more wealthy in money. This would mean that there are not lacking in making this city or ect, look good, they have food to eat, water, and this is what make a economic city place look good. It is also when places have money to use on other thing's as a skating rink or things of that case.

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A bankrupt who owns a house has the option of either paying the mortgage or losing his home. The court cannot reduce the amount

Olin [163]

Answer: I will vote in favor of the bill.

Explanation:

Based on the above scenario, I would vote in favor of the bill. The argument here is in the case of bankruptcy, if an individual is willing to pay their dues but because of unavoidable financial circumstances, the individual seeks more time or other assistance which can help so that the person will later pay. I believe it's a good idea which should be supported by the law.

The court should have the right to decide terms of mortgages to help debtors in order for them to pay their debts in future rather than forcing them to leave the house. It will also help the country deal with issue of facilitating housing to maximum number of individuals.

In my opinion, the judge's decision should be given prime importance as the judge must evaluate the intention of the debtor and the capability of the debtor to pay the debts

7 0

2 years ago

The company budgeted for production of 2,400 units in June, but actual production was 2,500 units. The company used 19,850 pound

horsena [70]

Answer:

d. $40 F

Explanation:

Calculation to determine what The variable overhead efficiency variance for June is

First step is to calculate the SH

SH = 2,500 units × 0.4 hour per unit

SH= 1,000 hours

Now let calculate the Variable overhead efficiency variance

Using this formula

Variable overhead efficiency variance = (AH - SH) × SR

Let plug in the formula

Variable overhead efficiency variance= (980 hours - 1,000 hours) × $2 per hour= (-20 hours) × $2 per hour

Variable overhead efficiency variance= $40 F

Therefore Variable overhead efficiency variance is $40 F

8 0

2 years ago

It is likely that airplane tickets will be increased by 5% each year for the next four years. The cost of the plane ticket to De

Luba_88 [7]

Answer:

The amount to save now is = $862.03 (to 2 decimal places)

Explanation:

In order to solve this, we will compute the end-of-year amounts using the 5% increase each year. This is done as follows:

Year 1 ending = $200

Year 2:

Year 2 beginning price = $200

Note that 5% increase = 5/100 = 0.05

increase in year 2 = 5% of 200 = 0.05 × 200 = 10

Year 2 new price = 200 + 10 = $210

Year 3:

beginning price = $210

increase in year 3 = 0.05 × 210 = $10.5

Year 3 new price = 210 + 10.5 = $220.5

Year 4

beginning price = $220.5

interest in year 4 = 0.05 × 220.5 = 11.025

new price in year 4 = 220.5 + 11.025 = $231.525

Next to calculate the amount needed to pay for one travel ticket per year for the next four years, we will add the prices of the tickets each year as follows:

Total amounts needed = 200 +210 + 220.50 + 231.53 = $862.03

5 0

3 years ago

A _____ occurs when a company's management decides to add products to an existing product line in order to compete more broadly

Harman [31]

C. Product line extension.

7 0

2 years ago

Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can

Ierofanga [76]

The true statement out of all is

B) Georgeland has both an absolute and a comparative advantage in producing clothing.

Explanation:

This is because Absolute advantage is when one firm or a producer is able to produce more of a product using less resources or less time or more of the product in the same resources or same time as the other.

Comparative advantage is found out at the added bonus of having the product be as viable as it is advantageous which means that the producer could also be making another product and would have the advantage in that too so either one of them is equally profitable.

5 0

3 years ago