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finlep [7]
3 years ago
11

If the population growth rate is 2​ percent, real GDP per person will double in 7 years if real GDP grows by​ ______ percent per

year.
Business
1 answer:
Valentin [98]3 years ago
6 0

Answer:

With a population growth of 2%, the GDP has to grow 12.6% per year in order to real GDP per person double in 7 years.

Explanation:

It is necessary to state the formula to calculate the GDP growth per person in 7 years and some assumptions. Defining as base of population and GDP the number 100 (aleatory picked) we can write our equation: GDP per person in year 7 = 100(1+x)^7/100(1+0.02)^7=2 In this equation X is the fixed percentage of GDP growth. By iteration process, we get that X=12.6%

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Communities and countries with greater income inequality tend to have higher rates of crime and higher rates of drug use. These
aksik [14]

False Communities and countries with greater income inequality tend to have higher rates of crime and higher rates of drug use. These relationships are examples of positive correlations

<h3>What is  income?</h3>

Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.

Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.

Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.

To know more about  income follow the link:

brainly.com/question/25845157

#SPJ4

7 0
11 months ago
Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She
Mkey [24]

Answer:

accounting profit = $25

Total cost = $15

Economic profit  = $15

Explanation:

given data

spends = $5

Implicit cost  = $10 per hour

sell = $30

to find out

calculate the total cost for one photo frame

solution

first we calculate here accounting profit that is

accounting profit = Sale price - cost spent on materials

accounting profit = $30 - 5

accounting profit = $25

and

Total cost = Explicit cost + Implicit cost

Total cost = 5 + 10

Total cost = $15

and Economic profit will be

Economic profit = Accounting profit - implicit costs

Economic profit  = $25 - $10

Economic profit  = $15

7 0
3 years ago
7. During January 2005, an Italian invested in the Italian stock market and earned a return of 1.47%. During the same month, an
vovangra [49]

Answer:

Escreva a expressão algébrica correspondente a cada sentença abaixo descrita.

a) O quadrado de um número real x.

b) O cubo de um número real y.

c) O triplo de um número adicionado ao dobro de um número k.

d) A terça parte de um número real diminuído 7.

Explanation:

Escreva a expressão algébrica correspondente a cada sentença abaixo descrita.

a) O quadrado de um número real x.

b) O cubo de um número real y.

c) O triplo de um número adicionado ao dobro de um número k.

d) A terça parte de um número real diminuído 7.

5 0
3 years ago
An accounting professor at Middleton University devotes 60 percent of her time to teaching, 30 percent of her time to research a
rewona [7]

Answer:

Middleton University

Activity Cost of Instruction per student in the introductory and graduate financial accounting courses:

Total Instruction cost   $57,600

Number of students  = 65 (40 + 25)

Instruction per student = $57,600/65 = $886.15

Explanation:

a) Data and Calculations

Activities:                           Time Spent   Activity Cost Introductory Graduate

Course preparation                30%        $28,800         $17,723       $11,077

Classroom instruction            60%        $57,600       $35,446      $22,154

Appointments with students  10%          $9,600         $5,908       $3,692

Annual salary                                         $96,000      $59,077      $36,923

b) The activities are three for each of introductory and graduate courses.  The cost (annual salary) of the professor is allocated according to the time spent on each activity.  This cost is further allocated between the introductory and graduate classes according to the number of students in each course.  Overall, the same amount per each activity is spent on each student in both courses.

7 0
3 years ago
A monopoly is producing output so that the average total cost is $30, marginal revenue is $40, and the price is $50.
Len [333]

Answer:

B

Explanation:

In this question, we are asked to pick from the options what should serve as the point of action of the firm given the scenario painted in the question;

We proceed as follows;

ATC= 30 $

Marginal revenue(MR)= 40 $

Price(P) =50 $

For efficiency,MC=minimum ATC=30 $

MR =40 > MC=30

For profit maximization, MR =MC

So, firm should raise output ,so that MR falls and becomes equal to MC

So correct option is B.

4 0
3 years ago
Read 2 more answers
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