Answer:
$1000
$1010
Explanation:
The formula for determining simple interest = principal x time x interest rate
The formula for determining compound interest = future value - amount invested
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
1000 X 0.01 X 1 = $10
Given the figures in the question, the simple interest each year would be $10 based on $1000
But the compound interest in year 2 = 1000 x (1.01)^2 = 1020.10
1020.10 - 1000 = 20.1
compound interest in year 2 = 20.1 - 10 = 10.1
or
1010 x 0.01 x 1 = 10.1
Answer:
It will be double counting
Explanation:
GDP or gross domestic product is the measure of the total value of productions in the economy per period. In calculating the GDP, economists consider only finished products produced within the borders of a country in a financial year.
Second-hand cars cannot be counted in the calculation of GDP because it will result in double counting. GDP is calculated using the income, expenditure, or production approach. The second-hand cars were accounted for when they were purchased or sold for the first time. If the production method was used, the vehicles were accounted for in the year they were manufactured.
For the first question, the answer is the judicial branch of
the government since it is the one who ordain and establishes. The Judicial
branch construes the laws. The judiciary also offers a tool for the resolution
of arguments.
For the second question, the answer is the executive branch
of the government. The executive is the structure exercising authority in and
holding accountability for the power of a state. The executive implements and imposes
law.
Answer:
C. the market demand curve understates the relative importance of the product and resources are therefore underallocated to its production.
Explanation:
Positive external benefits refer to third party positive side effects, above & beyond private marginal benefit to the concerned consumer.
Eg : Education - Its consumption not only affects the concerned person, but the positive trickle down to the people & society around.
Personal consumption decisions are based on : equalisation - of private marginal benefit (demand) curve & private marginal cost curve. However, goods having positive external benefits have real marginal benefit curve increased over private benefit curve, by the extent of extra marginal social benefit.
So, market demand (based on private marginal benefit) curve understates the importance of product, and resources are therefore underallocated to its production (due to undervaluation of demand).
Answer:
fails to achieve the minimum average total costs attainable at each level of output.
Explanation:
X Inefficiency do take place in a firm when there is little or no incentive in controlling costs. As a result of this average cost of production will go up than necessary. And as a result of lack of incentives, technically, the firm will be far from efficient. It should be noted that X-inefficiency could be described as a situation in which a firm fails to achieve the minimum average total costs attainable at each level of output.
