Answer:
<u>Annual rate of return which will be earned from today is 5.89%</u>
Explanation:
FV = PV (1+r)^n
r is int Rate per anum abd n is balance period
10000 = 6700 ( 1 + r)^n
10000 = 6700 ( 1 + r)^7
( 1 + r)^7 = 10000 / 6700
= 1.4925
1+r = 1.4925^(1/7)
= 1.0589
r = 1.0589- 1
= 0.0589 i.e 5.89%
Answer: supply shock that caused a leftward shift of the short-run aggregate supply curve
Explanation:
One of the main causes of the 1974 - 1975 recessions was the raising of oil prices and then the subsequent oil embargo on the United States by Arab members of the Organization of the Petroleum Exporting Countries(OPEC).
OPEC did not like the support that the United States was giving Israel and so placed an embargo on the U.S. such that the U.S. could no longer get much oil from the Middle East which she heavily relied upon.
This reduced the supply of oil drastically to the U.S. and resulted in a supply shock that shifted the short run aggregate supply curve to the left to reflect the fuel scarcity and the effect it had on the economy as production slowed down.
Answer:
The correct answer is: services.
Explanation:
Services can be defined as economic activities that produce intangible and non-physical products. For instance, education, health, tourism, hospitality, etc.
Services cannot be stored in inventory. They are produced and consumed at the same time. They cannot be produced in advance to be used in the future.
Answer:
We are involved in the game of economics when we spend or receive money..
Explanation:
The economy is determined by the movement of money by individuals, groups or corporations.
Answer:
The answer is below
Explanation:
Patent is a term that describes a governmental grant or legal right to inventors of an intellectual property, to refrain or stop others from making, using, selling or importing their invention to and from other country.
Patent system is useful and beneficial because of the following reasons:
1. It allows an inventor the right to stop others from copying, manufacturing, selling or importing individual's invention without the person's permission. This will surely encourage invention from other people, which will lead to more technological advancement in the country.
2. It gives an inventor protection for a pre-determined period. This helps to refrain competitors from competing with the inventor, and in turn, leads to profit maximization for the inventor.
3. It also allows the inventor to license patent for others to use it or can sell. This can be considered as a great source of revenue for inventor's business, by collecting royalties from a patent they have licensed, often in a combination with a registered design and trade mark.
