Answer:
1. Technology.
2. Resources.
3. Institutions.
Explanation:
An economic growth can be defined as an increase in the market value of the finished goods and services produced by an economy in a particular country at a specific period of time. It is measured typically by the Gross Domestic Products (GDP).
Generally, economists are of the opinion that the economic growth and development of a particular country is determined by some critical factors.
By consensus among economists, the broad factors for economic growth are;
1. Technology: if well harnessed, technological advancement plays a vital role in the growth and development of a country's economy. An improvement in the application of technology implies that the same level of labor will increase productivity and thus, lowering the cost of economic growth and development.
2. Resources: this would help to boost the level of output or production being made available by a country through the discovery of more resources such as crude oil, land, gold, water, minerals etc.
3. Institutions: creation of institutions that would regulate, support and finance businesses would go a long way in advancing the economic growth and development of a particular country.
Answer:
Maddox must be paid overtime.
Explanation:
Solution
Generally,most people or individuals above 16 and 17 years old are considered as for calculating working hours and overtime pay during summer vacation.
In this scenario, Maddox had already worked 40 hours in the week and needs to work extra for the sole purpose of fixing machines.
For this, it is required or expected for Maddox to be paid.
Answer:
c. $20,416.50
Explanation:
Cost of assets = 20,000
Depreciation year 1 = 33% * 20,000 = $6,666
Annual cost saving = 25,000
Tax rate = 25%
Operating cash flow Year 1 = Cost saving*(1 - tax) + Tax*Depreciation
Operating cash flow Year 1 = 25,000*(1-0.25) + 0.25*6,666
Operating cash flow Year 1 = 25,000*0.75 + 0.25*6,666
Operating cash flow Year 1 = 18750 + 1666.5
Operating cash flow Year 1 = $20,416.5
So, the cash-flow from the project in year 1 is $20,416.50
Answer:
$200,000
Explanation:
The value of the government obligation = $5,00,000, 8%, 20 years bonds payable at 103
Interest expenses = $5,000,000 * 8/100 * 6/12 = $200,000.
Thus, $200,000 will be reported as debt service expenses in the fiscal year 20X7.
Answer:
Income elasticity of demand = - 0.56
Explanation:
Given,
P=10, Pc=100, Pd=2, A=5, and I=50.
So,
Q=200-5(10)-.1(100)-.5(2)+.2(5)-(50).
Q=90 (level of income)
Computation:
Given , I = 50, Q = 90.
ΔQ / ΔI = -1
Income elasticity of demand = (ΔQ / ΔI) x (I / Q)
Income elasticity of demand = - 1 x (50 / 90)
Income elasticity of demand = - 0.56