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Alchen [17]
2 years ago
12

If GDP is expected to increase at a steady rate of 3% per year, how many years would it take for living standards to double

Business
1 answer:
Troyanec [42]2 years ago
5 0

Answer:

24 years

Explanation:

In a situation where a country GDP which is fully known as GROSS DOMESTIC PRODUCT was been expected to increase or grow at a rate of 3% per year or per annual which means that it will actually takes up to 24 years for a country economy living standard to double .

Therefore the numbers of years it would take for a country living standards to double will be 23 years.

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When economists say that a good is non-rival in consumption, they mean that:____.
juin [17]

Answer: When economists say that a good is no -rival in consumption, More than one person can enjoy the good at the same time

A good is excludable if someone can be prevented from using it. A good is rival in consumption if one person's use reduces others' ability to use the same unit of the good. Markets work best for private goods, which are excludable and rival in consumption. Markets do not work well for other types of goods.

5 0
3 years ago
For​ 2018, Rest-Well Bedding uses​ machine-hours as the only overhead​ cost-allocation base. The direct cost rate is​ $6.00 per
maria [59]

Answer:

Predetermined manufacturing overhead rate= $6.875 per machine-hour

Explanation:

Giving the following information:

The estimated manufacturing overhead costs are​ $275,000 and an estimated​ 40,000 machine hours.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 275,000/40,000

Predetermined manufacturing overhead rate= $6.875 per machine-hour

3 0
2 years ago
Alan krueger conducted a survey of fans at the 2001 super bowl who purchased tickets to the game for​ $325 or​ $400. krueger fou
Gekata [30.6K]
These results are evidence of "<span>the endowment effect".</span>

The endowment effect<span>, in behavioral finance<span>, portrays a situation in which an individual qualities something that they officially possess more than something that they don't yet claim. Studies have indicated over and again that individuals will esteem something that they effectively claim more to a comparable thing they don't possess. It doesn't make a difference if the thing being referred to was bought or gotten as a gift, the impact still stays.</span></span>

5 0
3 years ago
What is the sale price for a swimming suit with a regular price of $59.95 which is on sale for 30% off?
quester [9]

Answer:

$41.97

Explanation:

5 0
3 years ago
In its most recent financial statements, Del-Castillo Inc. reported $70 million of net income and $960 million of retained earni
alekssr [168]

Answer:

$53,000,000

Explanation:

The amount of dividends paid by Del-Castillo Inc. can be ascertained using the retained earnings formula as follows:

retained earnings=net income+previous year retained earnings-dividends paid

retained earnings for current year is $960 million

net income is $70 million

previous year retained earnings were $943 million

dividends paid is unknown

dividends=net income+previous year retained earnings-current year retained earnings

dividends=$70 million+$943 million-$960 million

dividends=$53 million

4 0
3 years ago
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