Suppose that real GDP per capita in Italy is $36,000. If real GDP per capita is growing at a rate of 3. 6% per year. How many years will it take for real GDP per capita to reach $72,000?
The correct answer is 20 years.
What is GDP per capita?
GDP per capita is calculated by dividing the total gross value contributed by all producers who are residents of the economy by the mid-year population, plus any product taxes (less subsidies) that are not taken into account when valuing output.
In the given case, the real GDP of Italy will be doubled in 20 years which is determined by rule 72.
So, 20 years it will take for real GDP per capita to reach $72,000.
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Answer:
C. Equilibrium Wage
Explanation:
The intersection of labor demand and supply curves forms the equilibrium wage. The term equilibrium means balanced. Firms will continue hiring more workers as long as the marginal revenue product of labor is greater than the cost of labor. In other words, a business will employ an additional worker if the benefits derived from that worker are greater than the wage paid to the worker.
If the benefits derived from hiring an extra employee match the wage rate, the organization ceases to employ. Equilibrium wage is the wage rate at which a firm stops hiring. At the equilibrium wage, the marginal revenue product of labor is equal to the wage rate. In other words, the firm will not benefits from employing an extra worker.
Answer:The Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) governs eligibility of a not-for-profit entity to be registered as a charity for federal purposes, and establishes governance standards and reporting requirements for registered organizations
WARNING: I am not sure I am right
Explanation:
Answer:
During the growth stage of the market life cycle, customers are very likely to establish brand loyalty.
Explanation:
Industry life cycle
This explains the stages or cyles from beginning to end of a product in a market. Some products go through these stages. It consists of four stage which are
1. introduction
2. Growth
3. Maturity
4. Decline
Growth stage
The characteristics of this stage is that product or brand finds its way or gains market acceptance sales start to rise, Competitive reaction will determine life expectancy of the product and sales promotion and distribution play a vital role in this stage. It is the period when sales are increasing at their fastest rate.
The statement above is false due to the fact that In the growth stage of market life cycle, the primary objective is to buildup consumer preferences for the specific brands. A lot of this needs to be considered and put in place such as strong brand recognition, differentiated products, and the financial resources to support a variety of value-chain activities such as marketing and sales, and research and development.
All of the following items would be included in a selling expense budget except <u>factory overhead</u>.
Manufacturing overhead does not consist of any of the promoting or administrative features of a business. Accordingly, the charges of such objects as corporate salaries, audit and legal fees, and terrible money owed are not covered in production overhead.
The selling expense budget is the obligation of the sales department. The price range consists of promoting expenses which include sales salaries, income commissions, marketing, sales office hire, shipping charges, sale components, and others. selling expenses can be constant and variable.
Factory overhead also referred to as manufacturing overhead or paintings overhead, or manufacturing unit burden in American English is the entire price concerned in working all production centers of a manufacturing commercial enterprise that cannot be traced at once to a product. It generally applies to oblique exertions and oblique price.
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