Suppose that the GDP of California increases by 12% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 22 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. years
Q: Please give me accurate answer with fluu explanation otherwise i give multipe downvote Note:- Please…
A: The objective of the question is to understand the concept of 'division of labor' in economics.
Q: Suppose the Canadian government has decided to place an excise tax of $20 per tire on producers of…
A: The Canadian government puts an excise tax of $20 on the producers of the tires. There was no tax…
Q: What does the Pareto efficiency criterion state? A. An allocation of resources is efficient if it…
A: The Pareto Efficiency Criterion is a concept in welfare economics that assesses the efficiency of…
Q: Consider the market for surfboards in the graph with a $100 tariff per imported surfboard compared…
A: The tariff on imports is a tax or duty imposed by the government of the domestic country on the…
Q: am. 104.
A: The issue we're endeavoring to tackle is to identify the group(s) that are probably going to help…
Q: Please give me proper calculation and full explanation Note:- Please avoid using ChatGPT and…
A: The objective of this question is to find the equilibrium market price in a perfectly competitive…
Q: An example of an incentive that can directly reduce the number of vehicles driven is: A) lower…
A: Markets facilitate the efficient allocation of resources. It allows sellers and buyers to determine…
Q: B) Graph, explain & give a detailed example for the following: Explain & give examples: Movement…
A: The demand curve shows the relationship between the price of a good and the quantity demanded by…
Q: Milton Friedman once said: "Nobody spends somebody else's money as carefully as he spends his own.…
A: The issue focuses on the proficient and persuasive utilization of assets. Friedman proposes that…
Q: A country's____________is the total economic value of all the products that it exports minus the…
A: Exports are the domestic goods and services that are bought by foreign consumers.Imports are the…
Q: A large Coca Cola vendor recently hired some economic analysts to assess the effect of a price…
A: Here we have to find out the impact of price change on the demand of an inferior good.Inferior Good:…
Q: Global warming has a negative impact on the entire world, but policymakers hesitate to make changes…
A: The objective of the question is to understand the potential economic impacts of implementing new…
Q: The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local…
A: In a Bertrand oligopoly, firms determine prices (not quantity) independently to maximize profits.…
Q: The supply and demand graph are the product stated in the market below. How does the market respond…
A: In a market, demand refers to the quantity of a good or service that consumers are willing and able…
Q: The company Cielito S.A. It manufactures clothing for older adults and has a large presence in…
A: Productivity is a measure of the efficiency of a person, machine, factory, system, etc., in…
Q: Analyze the graph below, showing data for the evolution of the minimum wage in the United States.…
A: First Image Issue:The issue introduced in the first image is an inquiry concerning the actual…
Q: Suppose 57% of the population has a retirement account. If a random sample of size 421 is selected,…
A: The objective of this question is to find the probability that the sample proportion of people with…
Q: How did rental car companies respond to the change in market conditions resulting from the COVID-19…
A: The objective of this question is to understand the economic decisions made by rental car companies…
Q: Why do people hold money? How will an increase in the interest rate influence the amount of money…
A: Money can be defined in various ways depending on the specific context and…
Q: Which one of the following is used to represent the days' sales in the inventory ratio formula? A B…
A: The days' sales in inventory (DSI) ratio formula calculates how long it takes a company to convert…
Q: A production possibilities curve that is a straight line represents the case of Group of answer…
A: The Production Possibilities Curve (PPC) is a graphical representation of the trade-offs and…
Q: Finf the AFC if the Total Fixed cost is 400 and the Output is 20?
A: Output is an amount of labor and products created in a particular time span (for example, a…
Q: Graph #1 Graph #2 Inflation Rate (%) 9 8 7 5 4 Inflation Rate (%) 3 2 1 0 0 8 7 6 2 1 0 0 2 4…
A: This is the model that postulates an opposite/negative relationship between unemployment and…
Q: By looking at the graph what would you say the mean growth rate is over the sixteen years of Apple's…
A: Economic growth is the expansion of revenue or GDP earned over a period. The total production level…
Q: Use the following joint distribution to compute E(X), E(Y), o, o, oxy, and corr(X, Y). X=0 X=1 Total…
A: The expected value of a random variable X, denoted as E(X), represents the average value that X is…
Q: reproduction cost
A: "Production price" usually refers to the overall fees incurred within the manner of producing or…
Q: what happens to the market price for rental cars as a result of the demand shock
A: The objective of the question is to understand the impact of a demand shock on the market price for…
Q: Chapter 22 Homework Poornima likes going to the ballpark to watch baseball, and she also is fond of…
A: Budget constraint depicts the combination of two goods that can be afforded by a consumer, given the…
Q: Rui's utility function is U=X+4XZ+Z. Let the price of good X be px, the price of good Z be…
A: Hicksian and Marshallian demand are two contrasting ways of looking at consumer behaviour. Hicksian…
Q: Required information WWA * 11 Olymp 12 Refer to the above graph to answer this question. What could…
A: Supply curve is the relationship between the price and quantity of the goods supplied. The supplier…
Q: arginal propensity to consume
A: The Marginal Propensity to Consume (MPC) is an idea in economics that represents the proportion of a…
Q: A company produces a single, high-volume product. One year its production volume was 780,000 units,…
A: The objective of the question is to calculate the average cost per unit produced by the company. The…
Q: interest rate
A: The Interest rate is the proportion of a mortgage charged as interest to the borrower, normally…
Q: 1. The village of Copsi has 100 identical residents who all love the local drink, Popsi. Each…
A: In economics, market equilibrium refers to a state where the quantity of a good or service supplied…
Q: Based on 1. the government imposes a 2-dollar tax on each 2. unit sale of x. (a) What is the new…
A: The utility function represents relationship between the utility and commodities consumed.
Q: 6. Which figure correctly includes the external costs on market supply curve?
A: Externality:It is an economic problem when people take benefit from the economic goods. It is…
Q: Suppose the fixed cost of building a nuclear power plant is $1 billion. Suppose also that the only…
A: Marginal cost refers to the additional cost incurred by producing one more unit of a good or…
Q: Suppose there exist two imaginary countries, Sequoia and Yosemite. Their labor forces are each…
A: Opportunity cost is the units of a good forgone to produce an additional unit of another good.A…
Q: Which of the following price-quantity data would be part of the demand curve derived from the graph…
A: Demand curve is the relationship between the price and quantity consumed. An increase in purchasing…
Q: The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer,…
A: Internal rate of return or IRR is regarded as one of the most important Capital Budgeting…
Q: Pollution Busters Inc. is considering a purchase of 10 additional carbon sequesters for $100,000…
A: Pollution Busters are contemplating purchasing 10 additional carbon sequesters.The cost of each…
Q: Suppose that in a week the price of spaghetti sauce increases from $5.00 to $5.50 per jar. At the…
A: The quantity demanded of a good or service and its price movements can be measured by using…
Q: To produce posters in the store requires a capital investment of $21000. In addition, there are…
A: Business economics entails making judgments and allocating resources in complex market situations.…
Q: A certain task can be performed by the executive, working alone, in 4 hours. If he delegates the…
A: Costs can be categorized into fixed costs (remain constant regardless of production levels) and…
Q: Food products W Z Plastic products Figure 2-4 shows various points on three different production…
A: Production possibility frontier is the curve showing the maximum production of two goods after…
Q: Assume that the labor supply curve is S(w) = w-20 and the demand curve is D(w) = 40 w/2. Suppose…
A: Labor demand: It refers to the number of laborers hired for production at a specific period. The…
Q: Give me proper answer with full explanation Note:- Please avoid using ChatGPT and refrain from…
A: The objective of the question is to understand the concept of price elasticity of demand and how it…
Q: firm
A: Convexity refers to a geometrical property of sets or functions where the road section connecting…
Q: Question (4): Consider a firm, where there is competition, looking to maximize its profits and the…
A: The problem outlined is a scenario analysis for a firm operating in a competitive market aiming to…
Q: For the following statement, draw a diagram that illustrates the likely effect on the market for…
A: Demand refers to the quantity that a customer wishes to buy at a given price in given period of time…
Step by step
Solved in 3 steps with 2 images
- A country's nominal GDP was 10 billion euros in year 2000. In the next ten years, nominal GDP increased by 2 % per year and prices incrcased 1,2 % per year. What was the annual growth rate (%) of real GDP in this 10-year period? Knowing this growth rate, what was real GDP in year 2010 using constant prices (base year 2000)?onsider an imaginary economy that has been growing at a rate of 3% per year. Government economists have proposed a number of policies to increase the growth rate but first need to convince the president that the policies will pay off. To do so, they want to present a comparison of the number of years it will take for the economy to double, depending on the growth rate. Using the rule of 70, determine the number of years it will take the economy to double at each growth rate. Growth Rate Years Required to Double (Percent) (Nearest whole number of years) 3 4 5In 1960 GDP per capita in the Republic of Korea (constant 2015 US$) was $1027. In 2021 it was $32731. Calculate the growth rate of real GDP per capita in the Republic of Korea over this period. Now suppose that the Republic of Korea grows at the same rate for the 70 years following 2021. What will the Republic of Korea real GDP per capitae in the year 2091? 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.
- The populations of Towns A, B, and C vary exponentially with respect to time. a. The population of Town A increases by 46% every 13 ycars. What is the annual percent change in the population of Town A? It% Preview b. The population of Town B decreases by 25% every 7 years. What is the annual percent change in the population of Town B? % Preview c. The population of Town C triples every 8 years. What is the annual percent change in the population of Town C? *% PreviewAt an annual growth rate of 3.5% it will take approximately years for a country's GDP to double. Over the next 60 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 60 years the value of GDP will be $ million. In 60 years the value of GDP will be times larger than it is today. ASUSSuppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)
- 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.Say that the average worker in Argentina has a productivity of $15 per hour while the average worker in Brazil has a productivity of $14 per hour (both measured in U.S. dollars). If worker productivity, over the next 5 years, grows 3% per year in Brasil and 2% in Argentina. At the end of the 5 years, how much more productive are argentinian workers relative to brazillian, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).Given the table below, calculate the population growth (number of individuals) in this country for 2010, 2015 and 2020. The result should be an integer number (no decimals). Round to the nearest number. E.g if the result is 350.4, write 350. If the result is 350.5, write 351. Number of individuals 2010 2015 2020 Births Deaths Immigration Emigration 5000 6000 7000 5500 5600 6000 850 2000 3000 450 500 600 Write the population growth (number of individuals) for 2010 in Blank #1. Write the population growth (number of individuals) for 2015 in Blank #2. Write the population growth (number of individuals) for 2020 in Blank # 3. Blank # 1 Blank # 2 Blank # 3
- 120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.If the economy's real GDP doubles in 9 years, we can not say anything about the average annual rate of growth. conclude that its average annual rate of growth is 8%. conclude that its average annual rate of growth is 12%. conclude that its average annual rate of growth is 4%.Country Z INDICATOR NOW 1 YEAR AGO GDP growth rate 3.7% 3.5% Explain if each country is healthy. Click True for Healthy Click False for Not Healthy O True O False