An economy maintains a small rate of growth for a long period of time, then the size of the economy: can increase by a large amount.
The real gross domestic product is employed to calculate it (GDP). long growth is delineated as an economy's ability to make additional products and services over time
There are 3 main factors that drive the economic process, Accumulation of capital stock will increase parturient inputs, like employees or hours, worked, and Technological advancement.
Physical capital, human capital, labor, and technology area unit all typically want to model growth in social science. Increasing the quantity or quality of working-age folks, the tools they need at their disposal, and therefore the recipes they need for combining labor, capital, and raw materials can end in higher economic output.
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Answer:
Private Savings = $4 Trillion
Explanation:
Given that
GDP = Y = 15 Trillion
Taxes = T = 1 trillion
Consumption = C = 10 trillion
Recall that
Private Savings = Y - T - C
Therefore,
Private savings = 15 - 1 - 10
= $ 4 Trillion
Answer:
Kindly check explanation
Explanation:
Food production and consumption is critical and key to survival, no matter an established and generally accepted number of daily square meal of 3 is widely adopted. This gives a clue tgta, no matter a country's problem or issues they face, aspects which concerns food and generally agriculture would be treated preferentially. Following the outbreak and severe spread of the deadly virus, it became imperative that affected nations introduced critical measures to try and curtail its spread, stringent measures include ; restriction of movement, strict emphasis on social distancing, hence, the need to reduce the number of people on a particular site or work area, travel restrictions, among others. This restrictions had s here effect on the agriculture and the food supply chain and its effect was quickly very noticeable as people would eventually die of hunger if nothing was done. This prompted government to introduce exemptions and preference afforded to the agricultural sector ; such as keppibg trade channels open in other to facilitate food distribution, timely observation and monitoring of food crisis among others.
Answer:
PV= $62,158.4
Explanation:
Giving the following information:
Annual payment= $6,400
Number of periods= 15 years
Interest rate= 6% = 0.06
<u>First, we need to calculate the future value using the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {6,400*[(1.06^15) - 1]} / 0.06
FV= $148,966.21
<u>Now, the present value:</u>
PV= FV/(1+i)^n
PV= 148,966.21 / (1.06^15)
PV= $62,158.4
Answer:
The correct answer here is d.
Explanation:
Real wage is the nominal wages adjusted for price changes. It reflects the purchasing power earned by the workers.
There will be a direct and positive relationship between real wages and number of workers who are willing to work. This means when there is an increase in the real wages, more workers will be willing to work because they will be earning more. Reverse will be the situation in case of reduced real wages.
