Assume GDP of a (tiny) country at time zero is equal to $105.00105.00. Calculate GDP 11 years11 years later if the annual growth rate of GDP is 6 percent6 percent. Round to two places after
Q: Linus has the utility function is U(x1, x2)= x1+3x2. Derive the ordinary demand function for…
A:
Q: Economists consider full employment as being a situation where: everyone who wants a job has a job.…
A: A person is structurally unemployed when the skills posses by the person is no longer required by…
Q: 2) Ernesto is looking to purchase a new vehicle as his income has increased from $2,000 per month to…
A: Income elasticity of demand is defined as the percentage change in the quantity demanded for a good…
Q: Which trade pattern is BEST explained by increasing returns? O Nicaragua exports bananas to the…
A: Increasing returns is achieved when a country produces commodity on large scale so that the cost of…
Q: ChemCo Enterprises is the manufacturer of Ultra-Dry, a hydrophobic coating that will…
A: Given: First Cost=$43000 Annual costs=$18000 Annual Revenue=$40000 Salvage value=$4000 Number of…
Q: Question-01: The following table shows the average retail price of butter and the Consumer Price…
A: The new price level obtained is the true price when the retail price of commodities is adjusted to…
Q: Which of the following are discrete random variables? (A) The spin of a roulette wheel B D E The…
A: One who only considers quantifiable (discrete) values has a discrete random variable. It accepts the…
Q: 4) Jerry, an addict of Jamba Juice finds out about his 3% increase in pay, so he plans on increasing…
A: Cross Price Elasticity of demand measures the percentage change in quantity demanded of a good or…
Q: Exports goods and services that a country produces and then sells to other countries A country's…
A: Consumers in the home market acquire goods and services from businesses or persons abroad. Exports…
Q: where did you find the number 1000? can I have a clearest way of the calculations?
A: The number 1000 in this question is just an assumption to make the question understandable.
Q: Suppose the demand curve for a product is given by Q=300-2P+44 where Iis average income measured in…
A: Information Given: Qd = 300 - 2P +4I Qs = 3P -50 I - refers to the income.
Q: 11. The October 22-23, 2022, Wall Street Journal reports that Whirlpool is planning to decrease the…
A: Answer to the question is as follows:
Q: An economy has the following characteristics: Y = National income Taxes = T = 0.25Y C = Consumption…
A: Aggregate expenditure is the sum of consumption, investment, government and net exports. AE = C+ I…
Q: If this firm is a monopoly, at what quantity will profit be maximized? If this is a perfectly…
A: In case of Perfect Competition there are large number of sellers that sell identical products. The…
Q: 7. Refer to Figure 14-1. Firms will be earn losses in the short run but will remain in business if…
A: A competitive market is one in which no single customer or producer has sway over the market. Its…
Q: Consider the following game between Player A with a choice between moves d₁ and d2, and player B…
A: There are two players - Player A & Player B Payoffs are structured in the following way -
Q: 600 Domestic Demand PRICE (Dollars per ton) 500 560 530 500 470 440 410 380 350- 320 0 30 60 90 120…
A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…
Q: Suppose the only two meat dishes consumed in the United States are flounder and beef. What are the…
A: As per the given information the consumers in The United States consume two meat dishes flounders…
Q: Are Uber drivers are independent contractors or employees? Why is it difficult to define?
A: There have been many debates in various countries regarding the status of uber drivers. Uber and…
Q: When trade opens between two countries, the country with higher income will experience higher C:…
A: According to the theory of comparative advantage, if countries export that good in which they have…
Q: Robin owns a horse stables and riding academy and gives riding lessons for children at “pony camp.”…
A: Total revenue is the amount that the seller earns by selling their product. The cost of producing an…
Q: You’ve been given a firm’s production and cost functions: p = 132 −2q M C = 12 + 4q Assume this…
A: A monopoly is sole producer of a good this having maximum market power hence acts as a price maker.
Q: If this year's harvest is less than last year's by 10 percent, to sell all of the crop, how much…
A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…
Q: price discrimination is @ The legal practice of charging & groups prices for the different product…
A: A selling technique known as price discrimination involves charging customers various prices for the…
Q: Trade Deficit O the price of one country's currency in terms of another country's currency O occurs…
A: Exported products are the goods sold by domestic producers to foreign residents. Imported products…
Q: You produce shoes (Q) with labor (L) and capital (K). The production process is as so: Q = 400L -…
A: In economics, a budget constraint shows all the combinations of products and services that a…
Q: QUESTION 43 Once trade begins, a possible terms-of-trade for textiles in terms of grapes is B- (A:…
A: Terms of trade is the amount of import goods an economy can purchase per unit of export goods.
Q: Material-handling equipment used in the manufacture of grain products (MACRS-GDS 10-year property)…
A: Modified accelerated cost recovery system is the abbreviation for MACRS Depreciation. In the US, it…
Q: The November 2, 2022, Wall Street Journal reports that interest rates on home loans have increased…
A: Retail industry is one of the key sectors in any economy. The demand and supply of new homes closely…
Q: The nation's commodity terms of trade times the productivity index in its export sector gives the…
A: Introduction Trade is an activity of buying and selling of goods for money or other goods.
Q: Gloria decided to open her own business and earns $50,000 in accounting profit the first year. When…
A: Opportunity cost refers to all that is given up to make a particular decision. Economists minus the…
Q: You own a family farm, worth $500,000, and need to decide what to do with this year’s earnings of…
A:
Q: A vegetable fiber is traded in a competitive world market, and the world price is $9 per pound.…
A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…
Q: Consider the figure to the right. The quantity Q₁ is 2,400 units, the price P₁ is $6 per unit, and…
A: Monopoly refers to that market form in which there exists only a single seller and this market…
Q: 5. Explain the difference between fixed cost, sunk costs and variable costs. Provide an example that…
A: Cost of production is incurred in the production of goods and services in the economy, these costs…
Q: Economies of scale, production techniques, product design and managerial efficiency are all examples…
A: When an industry or firm upscales with regard to various factors then the firm faces economies of…
Q: A firm produces output using the technology y = 1000 KL ² where capital, K, is measured in…
A: The average cost function will be computed as the total cost divided by number of units produced.…
Q: Total revenue equals Question 2 options: a) price times quantity b) price divided by…
A: Total Revenue refers to the total amount of money earned by a firm from the sale of goods and…
Q: A country, Azania, has been experiencing instability in export and import flows and has its domestic…
A: Selling of goods and services from the nation of origin to a foreign nation is known as export,…
Q: Consider Cowboys Stadium, a large football stadium that can seat approximately 80,000 people (and…
A: Pricing strategies are the techniques and procedures companies employ to decide the rates they…
Q: Which of the following is an example of an IS shock? i. A change in interest rates ii. A change in…
A: What is a Supply Shock? A supply shock is a powerful reaction to the price of a product because of…
Q: A 10% increase in the price of soda leads to a 20 percent increase in the quantity of iced tea…
A: To determine how much demand for one commodity will change in response to a change in the price of…
Q: You own a house worth $700,000 that is located on a river. If the river floods moderately, the house…
A: Estimated Cost: The estimated cost is the projected amount that may be arouse in completing a…
Q: For the below ME alternatives, which machine should be selected based on the AW analysis. MARR=10%…
A: Machine A Machine B Machine C First Cost 21,302 30000 10000 Annual Cost 9993 6000 4000…
Q: Retail demand for eggs was given as in a certain market was given as P, = 23-0.04Q whereas the farm…
A: Since you have posted multiple questions we have answered first three sub parts for you. Given:…
Q: A COMPANY IS STUDYING TO UPGRADE THEIR EQUIPMENT IN ORDER TO REDUCE COST BY P40,000.00 PER YEAR.…
A: Rate of Return: The rate of return is the % of gain or loss of the project. If the rate of return is…
Q: Your company has a customer who is shutting down a production line, and it is your responsibility to…
A: Expected profit is the probability of getting a profit multiplied by the profit, by the result, and…
Q: In May 2007, Frontier Airlines Holdings hired Gerry Coady as chief information officer (CIO). Nearly…
A: Crisis: An unanticipated event that agitates an organization's workforce is known as a crisis. An…
Q: QUESTION 5 For the below ME alternatives, which machine should be selected based on the AW analysis.…
A: When more than two alternatives are offered for a project and their lifespans differ, the annual…
Q: If the t-statistic for a variable is -1.74, is the variable statistically significant? No O Yes
A: In statistics, the t-statistic refers to the ratio of the departure of the estimated value of a…
Assume
Round to two places after the decimal.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth=2.6 percent; real output growth = -1.4 percent. Real growth per capita:% b. Estonia: population growth=-0.3 percent; real output growth 4.3 percent. Real growth per capita: % c. India: population growth = 2.1 percent; real output growth 6.2 percent. Real growth per capita: % d. United States: population growth = 0.4 percent; real output growth 2.6 percent. Real growth per capita: %Calculate real growth per capita in the following countries:Instructions: Round your answers to 1 decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of the number.a. Democratic Republic of Congo: population growth = 2.7 percent; real output growth = - 1.5 percent. %. b. Estonia: population growth = - 0.5 percent; real output growth = 4.4 percent. %. c. India: population growth = 2.2 percent; real output growth = 6.3 percent. %. d. United States: population growth = 0.6 percent; real output growth = 2.7 percent. %. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over the next 70 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 70 years the value of GDP will be $ million. In 70 years the value of GDP will be times larger than it is today.
- Suppose a country has a real GDP per capita of $69,000 and grows at a constant rate for the next 49 years. How much larger (in percentage terms) is this country if its growth rate is 4.13% instead of 3.05% after 49 years of growth? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.Calculate GDP growth rateCalculate approximately how many years it will take per capita GDP in the United States, Mexico, China, Rwanda, and Haiti to double, assuming that each country continues to grow at the same average rate as between 1960 an 2010. (Hint: Use the Rule of 70.) (Round your responses to one decimal place. Enter "−1" if a country will never double its GDP.) Implied (Average) Annual Growth (%) Years to Double United States 2.00 ? Mexico 1.79 ? China 4.72 ? Rwanda 0.60 ? Haiti −0.14 ? If the United States, Mexico, China, Rwanda, and Haiti continue to grow at the rates given in the exhibit, how many years (starting from 2010)would it take each to catch up to the United States in terms of per capita GDP? (Hint: If a country's GDP per capita is growing at a constant rate, g, then the natural log of GDP per capita t years into the future is: ln y(t) = ln y(0) + gt, where y(0) is GDP per…
- There are two countries in the world: Happytimes and Treehausland. Both countries currently have a GDP per capita of 1. Use the information in the table about growth and productivity to answer the questions. Round all numerical answers to two decimal places. Country Growth rate of GDP per capita Happytimes 0.086 Treehausland 0.031 What is GDP per capita in Happytimes in 21 years21 years ? Happytimes's GDP: $ What is GDP per capita in Treehausland in 21 years21 years ? Treehausland's GDP: $ In 21 years21 years , Happytimes grows how many times more than Treehausland? Happytimes's growth: times Treehausland's growthThe Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the number of years it would take to double GDP at various growth rates. Doubling times can be approximated by the rule of 72. Seventy-two divided by the growth rate equals the number of years it takes to double. Growth Rate Doubling Time (percent) (years) 0.0 Never 0.5 144.0 1.0 72.0 48.0 36.0 28.8 20.6 20.6 18.0 16.0 14.4 13.1 12.0 11.1 10.3 9.6 9.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 China's output grew at an amazing rate of 8 percent per year from 2010 to 2014. a. At that rate how long would it take for China's GDP to double? b. With its population increasing at 0.6 percent per year, how long will it take for per capita GDP to double? years yearsDoes the growth of real GDP measure the economic growth rate accurately?
- If GDP is currently $300 and the growth rate is 5 percent, how many years will it take for GDP to reach 382.88? Round to the nearest whole number.Hypothetical data is given for the following countries. Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth = 2.8 percent; real output growth=-1.6 percent. Real growth per capita: % b. Estonia: population growth-(0.6) percent; real output growth-4.5 percent. Real growth per capita:[ % c. India: population growth=1.7 percent; real output growth = 5.9 percent. Real growth per capita: [ % d. United States: population growth 0.7 percent; real output growth = 2.8 percent. Real growth per capita: [The fictitious country "Alpha" has a real GDP per person of $10,000. Instructions: Enter your responses rounded to the nearest penny (two decimal places). a. If Alpha has a 1% growth rate in real GDP per person, then after 15 years Alpha's real GDP per person is $ b. If Alpha has a 2% growth rate in real GDP per person, then after 15 years Alpha's real GDP per person is $ c. After 15 years, the difference in Alpha's real GDP per person based on the two growth rates is $
