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Yakvenalex [24]
3 years ago
9

Compound growth in an economy can increase people’s standard of living for country Z. If the economy for country Z starts with a

GDP of 150 and a growth rate of 2% per year, what will its GDP be after 15 years?
Business
1 answer:
masya89 [10]3 years ago
7 0

Answer:

The GDP after 15 years=202

Explanation:

The GDP also known as the Gross Domestic Product is the quantity of goods and services produced in a country during a certain period in time usually expressed in monetary terms. GDP usually illustrates how much the country's economy is growing and expanding.

To determine the GDP after 15 years, we can have the expression below;

F=P(1+r/n)^nt

where;

F=future GDP

P=initial GDP

r=growth rate per year

n=number of times the growth rate is applied per year

t=number of years

In our case;

F=unknown, to be determined

P=150

r=2%=2/100=0.02

n=1

t=15 years

Substituting;

F=150(1+0.02)^(15×1)

F=150(1.02)^15

F=201.88=202

The GDP after 15 years=202

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6 0
3 years ago
A monetarist would argue that a. prices are inflexible. b. wages are inflexible. c. changes in M in the short run can cause Real
DerKrebs [107]

Answer:

The correct answer is the option C: changes in M in the short run can cause Real GDP to fall.

Explanation:

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8 0
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Larry and Susan work in an office near 2 Live Stew and Stew-topia, specialty stew restaurants on the same block. Larry notices t
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Larry would therefore be correct in saying that to prove Stew-topia engaged in predatory pricing, it would need to proven that Stewtopia priced stew below average variable cost with the specific intention of driving 2 Live Stew out of business.

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