Answer:
20 years (scenario A) and 16 years (scenario B)
Explanation:
The real GDP will double in "n" number of years, with "n" estimated by interpolation using the formula below.
In the solutions below, we assumed current GDP to be 1, and as a result, the GDP will double to 2.
Scenario A
When you substitute 20 for "n" in the left hand side (LHS) of the equation, you will arrive at 1.99 which is approximately equal to 2. Any number below 20 will result in a number less than 2.
Thus, with an average annual real GDP growth rate of 3.5%, real GDP will double in about 20 years.
Scenario B
When you substitute 16 for "n" in the left hand side (LHS) of the equation, you will arrive at 2.02 which is approximately equal to 2. Any number below 16 will result in a number less than 2.
Thus, with an average annual real GDP growth rate of 4.5%, real GDP will double in about 16 years.
Answer:
The most probable result is that the court will declare the contract invalid and non-binding because the purchase price and important terms regarding the consideration involve are too vague and indefinite.
In order for a contract to be considered valid and binding, consideration must exist and the more precise the terms, the better. Consideration is something of value that both parties exchange. In this case it is a house vs. money, but the price is not specified.
Answer:
C) There was no price control on gasoline at the time.
Explanation:
During the 1970s the US government established a price ceiling on gasoline, but as all price ceilings set below the equilibrium price, it results in both a deadweight loss and a supply shortage.
Since the price is "too cheap", then the quantity demanded will be more than the quantity supplied. Rising costs in gasoline production made things worst, since suppliers were constantly reducing their supply of gasoline, while consumer demand was constantly increasing.
Answer:
a. sales figures
Explanation:
In the case when the design would be made with regard to management support system so it would be significant to remeber that the executives should not care for the sales amount or figures as they do not play any kind of role in the management support system.
So the same would be relevant
Hence, the correct option is a.
Answer: Ralph does not have a good claim against Snowdrop, because age was not the deciding factor in Snowdrop’s decision to lay off Ralph.
Explanation: The reason for the firm laying off Ralph is vague and not explicitly stated. Therefore Ralph cannot make a claim against Snowdrop for laying him off due to his age.
