Answer: 8%
Explanation:
The Annual Percentage Rate or APR for short is calculated by dividing the finance cost by the total amount borrowed in the following manner,
APR = Finance Charge / Amount borrowed.
To calculate the Finance charge we add the interest and the service charge.
Finance charge = 25 + 15
= $40
Back to the APR formula we will have,
APR = Finance Charge / Amount borrowed
APR = 40/500
= 0.08
APR is 8%.
Answer:
should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Country A should specialise in the production of beans and B should specialise in the production of rice
It will take 7 years.
Given GDP is $20 trillion and increased GDP is $40 trillion.
Gross domestic product (GDP) is the standard measure of value added generated by the country's production of goods and services over a certain time period. GDP is the total monetary or market worth of all completed products and services produced within a country's boundaries in a certain time period.
As such, it also accounts for the money generated by such output, as well as the overall amount spent on final products and services (less imports).
Time take to reach $40 trillion is to be found.
Formula to find the time taken to reach $40 trillion is given below:
F = P *(1+i) ^t
Here,
F = 40,
P = 20,
I = 10%
Now put the values in the formula given above.
F = 0.1040 = 20 × (1+0.10) ^t(1.10)^t
= 40 / 20
= 2
Taking log both sides t = log 2 / log 1.10
= 7.27 yrs or 7 yrs
Therefore, it will take 7 years.
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Answer:
C- resource planning
Explanation:
“Resource planning is the act of allocating and utilizing resources (people, machinery, tools, rooms etc) to achieve maximal efficiency of those resources” (Ganttic, 2015). This management function plans the inputs needed for operations and ensures that they are always available for the daily functioning of the organisation and its different units. the resource planning unit would ensure that the required numbers for production and distribution are met.
Answer:
The correct answer is bureaucratic.
Explanation:
Bureaucracy is the organization or structure that is characterized by centralized and decentralized procedures, division of responsibilities, work specialization, hierarchy and impersonal relationships. The term is used in sociology, in administrative science and, especially, in public administration. It could be defined as a set of techniques or methodologies arranged to learn or rationalize the external reality (to which it intends to control the central power) in order to know it and call it in a standardized or uniform way. A clear example of this characteristic of bureaucracies, particularly those of government, is the hiring and assignment or removal of personnel, that is, officials, according to explicit criteria and relevant to the performance of duties.
