Answer:
2.38%
Explanation:
In January 2017 the average house price in an area was $279,400
In January 2002 the average house price was $196,300
Therefore the annual increase in selling price can be calculated as follows
t = 15
= ($279,400/$196,300)^1/15 -1
= 1.42333^0.06666 -1
= 1.02378 -1
= 0.02378 ×100
= 2.38%
Hence the annual increase in selling price is 2.38%
Essentially, your net worth is the value of what you own, minus what you owe. Or, as a formula: assets – liabilities = net worth
Answer:
It is difficult to estimate the marginal social benefits of supplying a public good.
Explanation:
A public good will always be beneficial to the society. However, the exact <u>social benefits</u> it brings cannot be exactly (quantitatively) measured. The costs behind the creation of such a good can be measured (e.g. How much of funding is needed to build a hospital in a village?).
On the other hand, the marginal social benefit for each unit of resources invested cannot be identified (e.g. How many people would benefit for a million dollars invested?).
