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Rzqust [24]
3 years ago
13

Discuss real and nominal GDP. Point out how they are alike and how they differ. Also, explain the problem with using nominal GDP

to measure the growth of the economy.
Social Studies
1 answer:
siniylev [52]3 years ago
7 0
<span>Real and Nominal GDP differ on what they measure. The Real GDP measures goods and services in the economy with prices adjusted for inflation, while Nominal GDP just takes the prices of the current year. The difference and the point of this would be that if one measures Nominal GDP you don't know whether the GDP went up because there were more goods and services produced or because the inflation rate went up. Real GDP measures the actual growth of the economy with adjusted prices to one similar base year. So you can see that the problem with using nominal GDP to measure the growth of the economy is that one doesn't know whether the economy grew or whether the value of the dollar just fell (aka inflation went up). Hope this helps!</span>
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Technological improvements and reduced equipment costs have made converting solar energy directly into electricity far more cost
Natali [406]

Hello. This question is incomplete. The full question is:

"Technological improvements and reduced equipment costs have made converting solar energy directly into electricity far more cost-efficient in the last decade. However, the threshold of economic viability for solar power (that is, the price per barrel to which oil would have to rise in order for new solar power plants to be more economical than new oil-fired power plants) is unchanged at thirty-five dollars.  Which of the following, if true, does most to help explain why the increased cost-efficiency of solar power has not decreased its threshold of economic viability?

(A) The cost of oil has fallen dramatically.  (B) The reduction in the cost of solar-power equipment has occurred despite increased raw material costs for that equipment.  (C) Technological changes have increased the efficiency of oil-fired power plants.  (D) Most electricity is generated by coal-fired or nuclear, rather than oil-fired, power plants.  (E) When the price of oil increases, reserves of oil not previously worth exploiting become economically viable."

Answer:

(C) Technological changes have increased the efficiency of oil-fired power plants.

Explanation:

Economic viability is able to reveal the degree of acceptance of consumers in relation to a specific product. This viability is important to understand how the product will be received in the market and how profitable or not it can be for those who produce it.

Economic viability is usually greater when the cost and benefit ratio of the product or service is favorable, however this is not always the case.

Regarding the use of solar energy, although technological changes have made the installation and equipment of this type of energy more cost-effective, these technological changes have also increased the efficiency of oil plants. As a result, the economic viability of solar energy has declined.

4 0
3 years ago
the framers of the Articles of Confederation deliberately designed a weak central government with few powers. their main reason
alexgriva [62]
They believed that a strong national government would cause the same problems the strong central leaders of England did. They didn't want a small tight knit group receiving all or most of the power. They didn't want to states to lose power so most of the power was given to them. A strong national government was viewed as dangerous
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3 years ago
What does it mean for an article to be peer-reviewed?
Alisiya [41]

Answer:

It means that your classmate is to review your article. They sould read and correct spelling errors or punctuation ( but this all depends on their levels of being able to do these tasks). But the main goal is to read and give you feedback.

Explanation:

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2 years ago
Many farmers pick fruits from trees before they are fully ripened. How can they ripen fruits after removing them from the trees?
astraxan [27]
Fruits ripen after being picked by spraying or injecting the fruits with hormones.

Ripening is only hastened in climacteric fruits (ie.apples, pears, tomatoes). The fruits continue to ripen mostly due to hormone named ethylene gas.

ANSWER: D) by spraying or injecting the fruits with hormones.

Hope this helps! :)
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3 years ago
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Could someone give me a list of pros and cons of imperialism in China? I am doing a History report and need some major help. I a
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