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Morgarella [4.7K]
3 years ago
5

What are the three factors of production in an economic system? Which factor is the basis for the American economic system?

Social Studies
1 answer:
ser-zykov [4K]3 years ago
7 0

Answer:

There are three basic resources or factors of production: land, labour and capital. The United States has a capitalistic system.

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b. Exact real rate of interest          2.78%

a. Calculations to determine the approximate real rate of interest in percent.

Using this formula

Approximate real rate of interest=Risk free rate - Inflation rate

Let  plug in the formula

Approximate real rate of interest = 9.44% - 5.21%

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b. Calculations to determine the exact real rate of interest in percent

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Exact real rate of interest= (Risk free rate-inflation) / (1+inflation)

Let plug in the formula

Exact real rate of interest= (9.44% - 5.21%) / (1 + 5.21%)

Exact real rate of interest=4.23% / 1.521%

Exact real rate of interest= 2.78%

Inconclusion:

a. Approximate real rate of interest   4.23%

b. Exact real rate of interest          2.78%

Learn more here:

brainly.com/question/19338918

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what does it mean in the Declaration of independence when it says "governments are instituted among men to secure these rights?"
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