Answer:
Chiefdoms
Explanation:
Kin based societies, headed by hereditary leaders or priests with the powers such as ceremonial and labor organization, land use supervision, and resource distribution are known as Chiefdoms
Chiefdoms are forms of hereditary political organization that is usually based on kinship, in which power is left in the hands of the most senior members of the royal family or selected ruling families. They also exercise economic powers of resource distribution.
Answer:
Explanation:
The money spent on domestically produced final goods and services: is equal to GDP.
<u>Gross domestic product, or GDP, is the total value of all final goods and services produced in the economy during a given year. </u>
GDP is used as a measure of the size of an economy and can also be used to compare the economic performance in other countries.
Answer:
Explanation:
From the question, we are informed that the British government has a consol bond outstanding paying pound 100 per year forever and that the current interest rate is 4% per year.
A. What is the value of the bond immediately after a payment is made?
The value of the bond here will be the present value of the payment on perpetuity. This will be payment divided by rate.
= $100/4%
= $100/0.04
= $2500
B. What is the value of the bond immediately before a payment is made?
The bond value here will be the value of the payment added to the value of the bond immediately after a payment is made which is calculated in (a) above. This will be:
= $100 + $2500
= $2600
