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Tpy6a [65]
3 years ago
5

Use the Rule of 70 to answer the questions on economic growth. Round answers to two places after the decimal. If annual real GDP

per capita growth in South Africa averages 1.8 % , how long will it take the country to double its real GDP per capita
Business
1 answer:
lyudmila [28]3 years ago
4 0

Answer:

39 years

Explanation:

Under the rule of 70, the economy doubles its real GDP per capita income

In this the computation is done by dividing the 70 by the annual growth rate

So, the formula is shown below:

Time period = Rule of 70 ÷ growth rate

where,

Growth rate is 1.8%

So, the time period at which the GDP doubles is

= 70 ÷ 1.8

= 39 years

By dividing the rule of 70 by the growth rate we can find the number of years at which the GDP doubles

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zavuch27 [327]

Answer:

rate of technological progress = 8 %

Explanation:

given data

capital net of depreciation = 10 percent

Population growing rate = 2 percent.

solution

we will apply here Golden Rule that is

According to golden Rule level of capital accumulation is in steady state which have the highest level of the consumption

so here rate of technological progress is =  10% - 2 %

rate of technological progress = 8%

and here economy will at Golden Rule steady state

so correct answer is 8 percent

8 0
3 years ago
In today's business environment, companies have to find ways to remain profitable by coping with increased competition and rapid
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Answer:

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Explanation:

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3 years ago
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8 0
3 years ago
20 POINTS FOR THE ANSWER
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It's been 20 years since Israeli Benny Landa revolutionized the printing industry with the advent of digital printing, and industry watchers say the inventor may have repeated the feat with a new product unveiled.

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6 0
1 year ago
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katrin [286]

Answer: $57,600

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In the above, Lee Inc. billed its customers $57,600 for services performed during the year. This is a service company and since their revenue comes from billings, this is their revenue for the year.

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