The supply curve will shift to the right if which of the following occurs? a. An improvement in technology. b. A new tax imposed
1 answer:
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Answer:
$831,600
Explanation:
The budget must account for all of the production of the first quarter and 20% of the production of the second quarter, the number of boots considered in the budget is:
Assuming that each boot uses exactly 2kg of raw material and that the company has 19,200 kg on hand, the amount of raw material still required is:
If the cost per kg is $9, then the budgeted materials purchases cost for the first quarter is:
The budgeted materials purchases cost is $831,600.
Answer:
40 years
Explanation:
Given:
Per capita GDP of United states = $32,000
Per capita GDP of China = $4,000
Growth rate of United states = 2%
Growth rate of China = 7%
Now, By the rule of 70
, the GDP will double in years
Therefore,
The United States GDP will double in = = 35 years
Thus,
The GDP of united states in 35 years will be (2 × $32,000 ) = $64,000
this is equals to the 16 times the current GDP of the China
Now,
The China GDP will double in = = 10 years
Therefore,
The GDP of china will be
2 × $4,000 in 10 years = $8,000
in 20 years = 2 × $8,000 = $16,000 ( i.e 4 times)
in 30 years = 2 × $16,000 = $32,000 ( i.e 8 times)
in 40 years = 2 × $32,000 = $64,000 ( i.e 16 times)
Hence, it will take 40 years for China to catch up with the united states