1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ioda
4 years ago
10

The gross domestic product (GDP) of a country was $112 billion in 2001. If the GDP grows at a constant rate of 4.3% per year, in

what year will the GDP be greater than $200 billion
Business
1 answer:
olasank [31]4 years ago
3 0

Answer:

The GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.

Explanation:

To calculate the GDP in a particular year after 2001, we know the equation will be,

GDP = 112 * (1+0.043)^t

Where,

  • t is the time in years

If we want to calculate the year in which GDP will be greater than 200 billion, we need to substitute the GDP part in the equation with amount of say 200 billion.

200 = 112 * (1+0.043)^t

200 / 112 = (1.043)^t

1.785714286  =  (1.043)^t

Taking log on both sides and dividing the equation for t.

log(1.785714286) / log(1.043)  = t

t = 13.772 years rounded off to 14 years

So, the GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.

You might be interested in
Silver Springs Company has an unfunded retiree health care plan. Each of the company's four employees has been with the organiza
Anettt [7]

Answer:

1. The expected post-retirement benefit obligation at the end of 2021 is $196,000, the present value of total net costs of providing health care benefits.

2. Calculation of the accumulated post-retirement benefit obligation at the end of 2021 is as below:

APBO = EPBO * Full eligibility period / Attribution period

APBO = $196,000 * 2 / (2+28)

APBO = $196,000 * 2/30

APBO = $13066.66666666667

APBO = $13,066.67

Thus, accumulated post-retirement benefit obligation at the end of 2021 is $13,066.67.

6 0
3 years ago
A group of fifty homeschooling parents in New Jersey get together and form a nonprofit membership organization for the purpose o
Furkat [3]

Answer: Cooperative

Explanation:

A cooperative is an independent association of people united voluntarily in order to meet their common economic, cultural and social needs and through a jointly owned enterprise.

A cooperative society is a group of people who possess specific common needs. The purpose of a cooperative society is to improve the economic status of its members. Cooperative societies usually offer their products to their members at a discount.

4 0
3 years ago
Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw materials
Zepler [3.9K]

Answer:

$171,619.20

Explanation:

Calculation to determine what The budgeted accounts payable balance at the end of November is closest to:

Using this formula

Budgeted accounts payable balance= Budgeted cost of raw materials purchases in November -(Budgeted cost of raw materials purchases in November*Raw materials purchases in the month of purchase percentage)

Let plug in the formula

Budgeted accounts payable balance=$286,032 - ($286,032*40%)

Budgeted accounts payable balance=$286,032 - $114,412.80

Budgeted accounts payable balance= $171,619.20

Therefore The budgeted accounts payable balance at the end of November is closest to:$171,619.20

4 0
3 years ago
The nominal exchange rate is 4 Saudi Arabian riyals, 8 Moroccan dirham, 60 Indian rupees, or .8 euros per U.S. dollar. A fast fo
rosijanka [135]

Answer:

b. Britain (France)

Explanation:

The nominal exchange rate is the rate at which an individual can trade the currency of his country for another country.

According to the numbers given for exchange rates, the real exchange rate between American and foreign goods is lowest with Britain.

6 0
3 years ago
Read 2 more answers
A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 500 un
amid [387]

Answer:

The correct answer is the third statement which says to maximize profits, the firm should produce less than 500 units.

Explanation:

The quantity of output produced is 500 units.

The marginal cost of producing 500 units is $1.50.

The minimum average variable cost is $1.

The price of the product is $1.25.  

The firm will be at equilibrium when the price is equal to marginal cost. To maximize profits firm should decrease output to the extent that marginal cost comes to $1.25. At that point, the firm will earn profits as average variable cost is lower than the price.

3 0
3 years ago
Other questions:
  • This year, Clearwater Inc., will produce 55,600 hot water heaters at its plants in Harrisburg, PA in order to meet its expected
    10·1 answer
  • market economies are distinguished from other types of economies largely on the basis of a. the political affiliations of govern
    13·1 answer
  • What type of questions can be answered with economic tools without interjecting any value judgment as to whether the particular
    6·1 answer
  • An associate degree is a:
    10·1 answer
  • Seven-year-old amal understands that when a cookie is broken into three smaller portions, it is still only one cookie, not three
    6·2 answers
  • When the price of bubble gum is $0.50, the quantity demanded is 400 packs per day. When the price falls to $0.40, the quantity d
    5·1 answer
  • How much does the government spend on welfare?
    9·1 answer
  • Sunglasses Unlimited Company manufactures sunglasses. Following is a list of costs the company incurred during May (Click the ic
    5·1 answer
  • What are the characteristics of economic globalization​
    7·2 answers
  • A broker was paid a commission of 6% of the first $120,000 of a sale price and 4% of all over $120,000. What would the sale pric
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!