Answer: See explanation
Explanation:
Real gross domestic product is simply refered to the economic output of a particular country which has been adjusted for price changes as inflation was taken into consideration.
Nominal gross domestic product is the measurement of the gross domestic product of a particular country which makes use of current prices, and isn't inflation adjusted.
The issue that may arise when nominal gross domestic product was used instead of real gross domestic product is that the nominal GDP leads to the inflation of the growth figure in the economy. This is because the nominal GDP doesn't take inflation into effect.
This leads to the misleading of the GDP since there'll be an overstatement of the GDP even though it was actually a rise in the inflation rate for the particular economy.
It would be the Bloom of the automobiles.
That x-intercept is where the line passes through the x axis (the horizontal line) and the y-intercept is where the the line passes through the y axis (the vertical line).
The slope is kind of like how slanted the line is. The slope is 2 because for every 1 point the goes horizontally, it goes 2 points vertically.
In case you have np idea what on earth I just said the answer is 2.
The answer is $3500.
You are simply asking for the equivalent of 2 points for the mortgage of $175,000. Since 1 point is equal to 1% of the mortgage, 2 points is 2% of the mortgage then.
Equation:
Y = P% * X
Y = 2% * 175000
Convert P into decimal: P = 2/100 = 0.02
Y = 0.02 * 175000
Y = 3500
