Under the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every 70/2.3 = 30.43 years.
<h3>What is Gross Domestic Product (GDP)?</h3>
The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year).
GDP Growth Rate:
- The GDP growth rate compares the most recent quarter or year to the preceding one and represents the percentage change in real GDP (GDP adjusted for inflation) from one period to the next.
- A positive or negative number may be used (negative growth rate, indicating economic contraction).
GDP per capita:
- By dividing nominal GDP by a nation's entire population, one can get GDP per capita.
- It conveys the nation's average economic output (or income) per person.
- The population figure corresponds to the year's median (or mid-year) population.
The price deflator, a statistical tool, is used to convert nominal GDP to constant prices.
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The answer to this item is letter <em>C. PRICE ELASTIC. </em>
The price elastic demand as stated in this given corresponds to the increase or rise in the total revenue when the price is brought down or decreased. This is indicated by the PED (price elasticity of demand).
The total revenue is calculated by multiplying the total items, good, or services sold by the unit price. For the demand which is price elastic, the decrease in the price will cause a higher raise in the number of customer vying for the products and services.
Answer:
<u>disturbance handler role of management</u>
Explanation:
Note that a manager <u><em>not only</em></u> directs employees but also resolves disputes among employees. In this scenario, Candace plays the disturbance handler role of management which involves a manager to fairly use his position of authority to resolve conflicts among employees.
Answer:
The answer is 36.5 days
Explanation:
Average days to sell inventory is the number of days it takes a firm or business to sell its inventories in a year.
(Average inventory/cost of goods sold) x 365 days
Average inventory = ($800 + $1,200) ÷ 2
=$1,000
Therefore, Barry Bee's average days to sell inventory is ($1,000 ÷ $10,000) x 365days
=36.5 days
Answer:
Autonomy
Explanation:
Autonomy allows the individuals to make independent decisions. In the case given in the question, the oncologist believes that the patient has the right to have their own opinions, values, and beliefs. This is why the doctor has left it on the patient to decide whether they want to go for chemotherapy or radiation to get rid of the disease. Autonomy gives the patient the right to accept or reject any treatment for themselves.