Answer:
1. Technology.
2. Resources.
3. Institutions.
Explanation:
An economic growth can be defined as an increase in the market value of the finished goods and services produced by an economy in a particular country at a specific period of time. It is measured typically by the Gross Domestic Products (GDP).
Generally, economists are of the opinion that the economic growth and development of a particular country is determined by some critical factors.
By consensus among economists, the broad factors for economic growth are;
1. Technology: if well harnessed, technological advancement plays a vital role in the growth and development of a country's economy. An improvement in the application of technology implies that the same level of labor will increase productivity and thus, lowering the cost of economic growth and development.
2. Resources: this would help to boost the level of output or production being made available by a country through the discovery of more resources such as crude oil, land, gold, water, minerals etc.
3. Institutions: creation of institutions that would regulate, support and finance businesses would go a long way in advancing the economic growth and development of a particular country.
Answer:
$440,000
Explanation:
Depletion expense = (Total barrel extracted/ total barrels that can be profitably extracted) x price
(32,000 / 640,000) x $8,800,000 = $440,000
I hope my answer helps you
Answer:
conspicuous consumption
Explanation:
The term conspicuous consumption was first introduced by a Norwegian-American economist and sociologist known as Thorstein Veblen in 1899. Conspicuous consumption refers to the practice whereby expensive goods or services are purchased by certain people at an outrageous cost just for the sake of display of flamboyant lifestyle or wealth for recognition purpose rather than for the very basic need the goods or services meet. It is simply an act of wasteful spending on goods or services that other people of that social class on a normal day cannot afford to pay such expensive price for.
The case of Hope is simply a kind of conspicuous consumption as she doesn’t mind emptying her credit card to afford the luxury of the new designer purse just for the purpose of public display among her social class.
When a bond's rating is upgraded, the bond is considered a safer investment. This will lower the yield on the bond, because the risk premium is lower. The same principle is at work if you apply for loan. You can think of your credit score as your "bond rating". The better your credit score, the more of a safe bet you are to lend money to, and the more likely you are get a lower interest rate. The same is true of bonds. The yield of a bond is inversely related to the perceived risk of the bond not being repaid.