Answer:
Grew by 2%
Explanation:
Given: nominal GDP =12% positive value cause it grew by 12% during these years.
Population grew by 4%
GDP deflator = 6% positive value cause it also grew by 6%
Question says we must find real GDP per person for the 4 year term that the president has served for so we will use the formula to calculate GDP Deflator to actually solve for Real GDP as we know the formula is GDP Deflator= (nominal GDP per person%)/(Real GDP per person%)x100
So we already have the nominal GDP and the GDP deflator therefore we substitute to the above formula:
6% = (12%)/ (Real GDP per person percentage) x100, and now we solve for Real GDP per person%
Therefore we multiply both sides with Real GDP percentage and get:
Real GDP per person %( 6%) = 12% and then we divide both sides with 6%,
Therefore Real GDP is 2% so we also see that real GDP has actual grown by 2% because the GDP deflator grew instead of decreasing where nominal GDP is also positive so if we have a fraction where an answer is positive we know both fraction values must be positive pus if the GDP deflator increases both nominal and Real GDP increase and that’s the relationship they have.
Monopolists do not prefer to produce in the when the demand for a good produced by them is inelastic. Option B is the correct answer.
- It is common to observe that monopolists, avoid engaging production when the demand for their product becomes inelastic.
- In order to understand this situation, it is important to address the meaning of inelastic demand.
- The term 'inelastic demand' refers to a situation where the demand for a product does not increase/decrease (change) when there is an increase/decrease (change) in its price.
- This does not lead to profits for a monopolist.
- It is because, a firm will be able to secure profits by producing lower amounts of goods for a higher price when the demand is elastic.
- Hence, when the demand is inelastic, the increase in the quantity will be sold at the previous standard price, leading to a fall in terms of the total revenue.
Therefore, it is clear that a monopolist will not produce when the demand for a good is inelastic.
Learn more about Demand Elasticity here:
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Answer:
A. To keep banks with falling asset values solvent.
Explanation:
When a bank is failing it will result in loss of funds not only for the bank but also for customers that have accounts in these banks.
If a bank eventually closes operations as a result of insolvency, they will not be able to pay off the customers. That is where the deposit insurance comes in to settle customers.
The government will have to spend a lot of money reimbursing customers their money.
To avoid this the federal government ensures the capital of banks is maintained to keep banks with falling asset values solvent.
Answer:
Single use plan
Explanation:
A single use plan is employed in tackling a particular organisational situation. This plan is only used once, because it is used to solve a specific situation and then discarded when the situation has been tackled.
A single use plan is utilized in situations that is unlikely to be repeated in the nearest future since the main purpose of the plan is to solve a particular problem.
The single use plan can be very precise in handling a particular situation.
Answer:
The two methods used to forecasting labor demand and supply are: Statistical Method and Judgmental Method.
The Statistical method collects previous historic data regarding company's demand and supply for qualified employees and provides forecasting for the particular period. It is feasible when other factors remain same in the organisation. It is not feasible when the organisation changes its objectives, mission and vision etc
<u>Cost and Benefit</u>
It prevents future shortage of qualified employees
It avoids disruption over operation
The Judgmental method is when the company follow judgmental method, that is it is based on manager's experience of conducting survey to estimate employees requirements on future operation.
It is feasible for small and medium size organisation for short term forecast. It
<u>Cost and Benefit</u>
It avoids short-run shortage of employees
It avoids short-run surplus of employees.
