you bought an old car a couple of years ago for $1,000 and put about $5,000 of parts and labor into improving it. you sold it yesterday for $3,000. how does yesterday's sale affect gdp? gdp will
Answers
This transaction will result in a $4,000 rise in GDP. Only freshly manufactured goods, including those that increase inventories, are included in GDP. Sales of used items and sales from inventories of goods from previous years are excluded from this.
Additionally, our GDP only includes goods that are produced and distributed lawfully. The calculation of a country's GDP takes into account both total private and public consumption, government spending, investments, increases in private inventories, paid-in building expenses, and the international balance of trade.
Exports are added to the value while imports are subtracted. Every transaction involves both a buyer and a seller, thus the entire spending and income of the economy must equal out.
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Related Questions
What is the main determinant of profit
Answers
Answer:
The main determinant of profit is in any business is the number of production units.
Hope this helps..
Explanation:
The three elements of the marketing concept are __________.
a. Market share, customer needs, marketing mix
b. Customer needs, company goals, profits
c. Channel management, customer needs, profits
d. Planning, target market, social media marketing
Answers
Answer:
B. Customer needs, company goals, profits
Explanation:
a group of farmers planned to harvest 80 acres of wheat per day to finish their work on schedule. right before the work started, they received a new piece of machinery that helped them to harvest 10 more acres per day than originally planned. on the last day before their deadline, they only had to harvest 30 acres due to their increased productivity. how many acres of wheat did the group of farmers have to harvest?
Answers
Answer: 480 acres
Explanation:
Let's say y is the amount of acres total.
x is the amount of days taken to plow.
Meaning, that 80x = y.
But y also equals 90(x-1)+30. They plowed 90 acres a day for one less day, and then on the last day, they only had to plow 30 acres.
Substitute out the y. 80x = 90x - 90 + 30
Simplify and solve: 80x=90x-60, 10x=60, x=10
Don't forget to multiply x by 80 for the total number of acres plowed.
Why is inflation considered an economic problem? please refrain from irrelevant answers.
Answers
Answer: it is an economic problem because it is the devaluation of currency. Meaning that money is worth less than what it was before. (prices will go up
but wages will stay the same)
Explanation:
which category of business customers includes individuals and business organizations that purchase products to profit by using them to produce other products or using them in their operations?
Answers
The category of business customers that includes individuals and business organizations that purchase products to profit by using them to produce other products or using them in their operations is called "Industrial Customers".
Business organizations are entities created for the purpose of conducting commercial, industrial, or professional activities. They are established to provide goods and services to customers in exchange for a profit. There are different types of business organizations, including sole proprietorships, partnerships, limited liability companies, corporations, and cooperatives. Each type of organization has its own unique legal structure, management, and taxation requirements. Business organizations operate in a dynamic and competitive environment and must continually adapt to changing market conditions to remain successful. They employ various strategies, such as marketing, innovation, and cost-cutting, to gain a competitive advantage. Effective leadership and management are crucial for business organizations to achieve their goals and maintain their sustainability.
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Today’s savings accounts do not offer interest rates much higher than 1%. How does this impact the power of compounding?
Answers
PLEASE HURRY!! I'M IN A TEST!!
Juan has a bachelor's degree in science; he has worked in the marketing research industry for five years; and he has two years of experience in the health care industry. He has just gotten a new job with Arrow Research. Juan will be helping define the objectives of marketing research projects in the health care industry, and analyzing and interpreting data. Juan's job is most likely as a _____. (Select all that apply.)
research manager
marketing research analyst
account executive
project director
Answers
He has just gotten a new job with Arrow Research. Juan will be helping define the objectives of marketing research projects in the health care industry, and analyzing and interpreting data. Juan's job is most likely as a Marketing research analyst
Option B is correct
His job responsibilities include defining the objectives of marketing research projects in the health care industry and analyzing and interpreting data.
Marketing research analysts typically have a bachelor's degree and several years of experience in the field. Juan's experience in both marketing research and healthcare industries make him a suitable candidate for this job.
Option B is correct
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What is the main difference between goods and services?
Answers
which mechanisms do governments use to attempt to maintain control over actions of foreign businesses operating within their countries by controlling the ownership of the foreign companies' assets?
Answers
Provide tax incentives, inexpensive loans, reduced trade barriers, and low-cost land and materials is the mechanism which is used to governments use.
Governments have the authority to establish the guidelines under which multinational corporations may conduct business within their national borders, provided that they adhere to international law.
The OECD Guidelines for Multinational Enterprises are directives from governments to multinational companies operating in or out of signatory nations.
special economic zones (SEZs) creation.making labor laws more adaptable.lowering trade obstacles.granting a required license.The three basic international strategies that multinational corporations can choose from are multi-domestic, global, and transnational. The emphasis placed on global efficiency and meeting local needs varies across these strategies.The Organization for Economic Co-operation and Development (OECD) generates unbiased research and statistics to support initiatives that increase economic and social well-being worldwide.To know more about Business here
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"sun joe spx2680-max electric pressure washer, 13-amp, 2050 psi max, 1.2 gpm max" is this item worth buying? how does the company sell?
Answers
The axial cam pump of the Sun Joe SPX2680-MAX can deliver a flow of up to 1.2 GPM and a pressure of up to 2050 PSI when it is driven by a 13 amp universal motor (according to CSA testing standards).
Specifications of spx2680-max electric pressure washer:Since the SPX2680-MAX is such an electric pressure washer, starting the motor is as easy as flipping an ON/OFF switch. The item comes with a 35-foot GFCI wire, making it safe to use right away.
GENERAL FEATURES
As described below, this Sun Joe SPX2680-MAX includes a sprayer, a wand, high pressure hose, three nozzles, and a detergent adding feature.
Addition of soap: Attach the provided foam cannon toward the end of both the wand to add detergent to the fluid at the exit.Pressure hose: A set of handy hooks makes it easy to neatly store the 20-foot high-pressure hose that is included.Spray gun and wand: You can easily store the traditional, ergonomic spray gun but also its wand in a side hook.Nozzles: The table below lists the three provided nozzles along with the various surfaces that each one is suitable for.To know more about the electric pressure washer, here
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Is anyone part of the Tallo Community?
Answers
Answer:
yes
Explanation:
yes
Pick a business that existed prior to the commercialization of
internet. Evaluate how their marketing strategy has changed after
the internet? What are the key differences?
Answers
A business that existed prior to the commercialization of the internet is the promotion of music videos.
The marketing strategy of promotion of music videos has changed after the commercialisation of the internet. The commercialization of the Internet entails the creation and oversight of online services for monetary gain. It usually entails increasing monetization of network services and consumer products mediated by various Internet technologies. E-commerce, electronic money, as well as advanced marketing techniques such as personalised and targeted advertising are all common forms of Internet commercialization.
It has enabled them to reach a larger audience than they would have been able to reach through traditional marketing methods. Second, eCommerce has simplified the process of finding what customers are looking for. Before making a purchase, they can now compare prices and read reviews.
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Which of the following is not an ethical decision-making model?A.Laura Nash model.B.Spiral model.C.Mary Guy model.D.IFAC model.
Answers
The IFAC model is not an ethical decision-making model. The correct option is D. It is the International Federation of Accountants. It is not an ethical decision-making model; instead, it is an organization that establishes international accounting standards.
Explanation:
Ethics and decision-making models are a necessary aspect of organizations. Organizations have different ethical decision-making models that guide ethical behavior among employees. Ethical models act as decision-making guides to the employees to make ethical decisions.In the case of IFAC, it is the International Federation of Accountants. It is not an ethical decision-making model; instead, it is an organization that establishes international accounting standards. Each model has its unique features, but they all have the same goal to guide employees in making ethical decisions. For instance, the Laura Nash model highlights twelve questions that guide individuals towards ethical decision-making, the spiral model guides the individuals to a common understanding of the ethical dilemma, and the Mary Guy model provides eight steps that guide individuals in making ethical decisions.
Thus, IFAC is not an ethical decision-making model, making option D the correct answer.
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Why is logistics important on a macro level, and what contributions does logistics make in the economy?
Answers
Logistics is important on a macro level because it plays a critical role in the economy by helping to facilitate the efficient flow of goods and services. Without logistics, the production, transportation, and distribution of goods would be much less efficient, which would result in higher costs for consumers and lower profits for businesses.
In terms of contributions to the economy, logistics helps to create jobs and stimulate economic growth. According to the Council of Supply Chain Management Professionals, logistics is a $1.5 trillion industry that employs more than 6 million people in the United States alone. In addition, logistics helps to increase competition in the marketplace by allowing companies to source materials and sell products globally, which helps to drive innovation and lower prices for consumers.
Overall, logistics is a vital component of the economy that helps to facilitate the flow of goods and services, create jobs, and stimulate economic growth.
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You're the production manager for Blue Ribbon Bakery, and you're responsible for managing the inventory of all of the flour, eggs, milk, butter, and other raw materials that go into the company's baked goods. Storing all of these raw materials, some of which require refrigeration, can get expensive so you don't like to go overboard on ordering them, but on the other hand you have to make sure the bakery workers have what they need.
Required:
What methods of inventory control do you think will work best at Blue Ribbon?
Answers
The inventory control methods that will work best at Blue Ribbon Bakery will be the Just-in-Time (JIT) method, which helps to stock the raw materials available in the proper quantity to be used during the work.
Just-in-Time is a method that seeks to optimize inventory, by providing the exact quantity for demand, avoiding waste, reducing costs and improving other processes by increasing quality, such as storage, transport and cash flow.
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Near the end of 2010, the ledger of Stivers Company included the following accounts and balances: Allowance for Doubtful Accounts$ 1,000credit balance Bad Debt Expense 0balance Accounts Receivable 200,000 debit balance Cash collections on accounts receivable during 2010 amounted to $450,000. Sales revenue during 2010 amounted to $800,000, of which 75% was on credit, and it was estimated that 2% of the credit sales made in 2010 would ultimately become uncollectible. Before adjusting entries were made for 2010, a $10,000 account was determined to be uncollectible and written off by Stivers. In the adjustment process, Bad Debt Expense was recorded to 2010. This information is not reflected in the account balances above.After the above entries were posted to the ledger, calculate the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable. Indicate whether the balance is a debit or a credit.
Answers
Answer and Explanation:
The computation of the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable is shown below;
For Accounts receivable
a) Opening balance $200,000 Debit balance
b) Current year credit sales (75% of $800,000) $600,000 Debit balance
c) (-) Current collection from accounts receivables -$450,000 Credit balance
d) (-) Bad debt expenses -$11,000 Credit balance
e) Closing balance of accounts receivables $339,000 Debit balance
for Allowance for Doubtful Accounts
Allowance required as per Current year analysis (2% of (75% of $800,000) $12,000 Credit balance
(-) Opening balance $1,000 Credit balance
$11,000 Credit balance
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Allowance for Doubtful Accounts 12000 Credit balance
For Bad debt expenses
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Bad debt expense account 0
how many ways can you make the change for a dollar?
Answers
The number of ways to make change for a dollar using traditional US currency (as of 2021) is 293.
Making change for a dollar is a classic problem in mathematics and computer science, which involves finding the number of combinations of coins and bills that add up to a specific amount, in this case, a dollar. The US currency has several denominations, including pennies (1 cent), nickels (5 cents), dimes (10 cents), quarters (25 cents), half-dollars (50 cents), and one dollar bills.The problem of making change for a dollar can be approached using a method called dynamic programming, which involves breaking down the problem into smaller subproblems and using the solutions to these subproblems to solve the main problem. In this case, the subproblems would involve finding the number of ways to make change for smaller amounts of money, starting with pennies and working our way up to dollars. We can start by creating an array with one element for each possible amount of money from 1 cent to $1.00, inclusive. The first element in the array, representing 1 cent, would have the value 1, since there is only one way to make 1 cent, and that is with a single penny. We can then use this array to find the number of ways to make change for each successive denomination. For example, to find the number of ways to make change for 5 cents, we would add up the number of ways to make change for 1 cent, 2 cents, 3 cents, and 4 cents, since these are the amounts that can be used to make 5 cents using only pennies and nickels. Similarly, to find the number of ways to make change for 10 cents, we would add up the number of ways to make change for each possible combination of coins and bills that add up to 10 cents.
This process would be repeated for each successive denomination until we reach the desired amount of $1.00. The final answer would be the number of ways to make change for a dollar, which is 293.
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Telecommuting can be BEST described as
A. using telephones to market products
B. travelling between home and the traditional office
C. establishing a communication link between companies
D. working from a remote location outside of a traditional office
Answers
Answer:
using telephones to market products.
In the context of the five phases in the life of an organization, identify a true statement about the period of crisis in phase 1.
Multiple Choice
Leaders become overworked and harried by administrative details.
Decentralized leaders are able to penetrate new markets, respond faster to customers, and develop new products.
Lower-level leaders become increasingly frustrated and demand flexibility and room to exercise their own initiative.
Communication from the top management is less frequent.
Answers
Leaders become overworked and harried by administrative details.
How do leaders typically experience the period of crisis in phase 1 of an organization's life?In the initial phase of an organization's life, often referred to as the period of crisis, leaders find themselves overwhelmed by administrative responsibilities.
As the organization is still establishing its foundation, leaders are burdened with numerous tasks, ranging from setting up operational processes to managing financial aspects.
These administrative details demand their attention and can lead to feelings of being overworked and harried. During this phase, leaders may struggle to balance their time effectively, resulting in increased stress and the potential for burnout.
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Designing an effective marketing mix conveys to potential buyers a clear customer value proposition, which is a _____. Multiple choice question. statement that claims to offer customers the lowest possible price for the products sold plan of action that an organization adopts to support its mission and goals proposition made to customers about ensuring quality manufacturing cluster of benefits that an organization promises customers to satisfy their needs
Answers
Answer:
cluster of benefits that an organization promises customers to satisfy their needs
Explanation:
In order to create an effective marketing mix that represent the potential buyer an accurate customer value i.e. the benefits are cluster in which an organization promised to the customer to satisfy their needs and wants. The customer value proposition refer to the total benefits in which the company promised to the customer the satisfaction in return of the payment done by the customer
Eight years ago, a woman and a man began living together. The woman worked as an investment banker, and the man worked part-time as a bartender while he struggled to write his first novel. The couple lived in a condominium that the woman had purchased shortly before the man moved in. The woman had purchased the condominium for $300,000 using her own money and had taken title in her own name.
Four years ago, the woman and the man were married at City Hall. One week before the wedding, the woman presented the man with a proposed premarital agreement and an asset list. The asset list correctly stated that the woman owned the condominium, then worth $350,000, and a brokerage account, then worth $500,000. The agreement specified that, in the event of divorce, each spouse would be entitled to retain "all assets which he or she then owns, whether or not those assets are acquired during the marriage." The man was surprised when the woman gave him the agreement to sign, and he contacted a lawyer friend for advice. The lawyer urged the man not to sign the agreement. Nonetheless, the man signed the agreement, telling the woman, "I'm a little hurt, but I guess I understand that you want to keep what you earn." The woman signed the agreement as well.
After their wedding, the woman and the man continued to live in the woman's condominium and to work at the jobs each held before the marriage. The man also continued to work on his novel.
Six months ago, the man's novel was accepted by a publisher. The novel will be released next spring. The publisher has estimated that the royalties may total as much as $200,000 over the next five years.
Two months ago, the woman and the man separated. The woman remained in the condominium, now worth $400,000 as a result of market appreciation. The woman's brokerage account, worth $500,000 when she and the man married, is now worth $1,000,000 as a result of market appreciation and additional investments that the woman made with employment bonuses she received during the marriage. The woman has made no withdrawals from this account.
One month ago, the woman won, but has not yet received, a $5 million lottery jackpot.
One week ago, the man filed for divorce. In the man's divorce petition, he asks the court to invalidate the premarital agreement and seeks half of all assets owned by the woman, i.e., the woman's brokerage account, her condominium, and her right to the lottery payment. The man owns no assets except for personal effects and the book contract under which he will receive future royalties based on sales of his novel.
This jurisdiction has adopted the Uniform Premarital Agreement Act, which in relevant part provides that "the party against whom enforcement [of the premarital agreement] is sought must prove (1) involuntariness or (2) both that 'the agreement was unconscionable when it was executed' and that he or she did not receive or waive a 'fair and reasonable' disclosure and 'did not have or reasonably could not have had . . . an adequate knowledge' of the other's assets and obligations."
The jurisdiction's divorce law requires "equitable distribution" of all marital (community) assets and prohibits the division of separate assets.
1. Is the premarital agreement enforceable? Explain.
2. Assuming that the agreement is unenforceable, what assets are subject to division in the divorce action, and what factors should a court consider in distributing those assets? Explain.
Answers
In this case, the man is requesting the court to invalidate the premarital agreement and seek half of all assets owned by the woman.
The jurisdiction has adopted the Uniform Premarital Agreement Act that mandates that the party against whom enforcement of the premarital agreement is sought must prove (1) involuntariness or (2) both that the agreement was unconscionable when it was executed and that he or she did not receive or waive a fair and reasonable disclosure and did not have or reasonably could not have had an adequate knowledge of the other's assets and obligations. Since the woman presented a proposed premarital agreement and an asset list to the man, he had the opportunity to review the asset list and sign the agreement, so it is reasonable to assume that he received a fair and reasonable disclosure.
He signed the agreement willingly, even though he was urged not to by a friend. He was aware of the assets owned by the woman before and after the marriage, and the agreement specified that each spouse would be entitled to retain all assets which he or she then owns, whether or not those assets are acquired during the marriage. The agreement, in this instance, is enforceable. The court will have to take these factors into account when determining the equitable distribution of the marital assets.
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how serious do you believe stephen richards’ actions were? why?
Answers
Stephen Richards' actions were quite serious. This is because he was convicted of fraud and served time in prison for his crimes. Fraud is a serious offense that involves intentionally deceiving others for financial gain. Richards' actions not only harmed those he defrauded, but also damaged public trust in the financial system.
Richards' actions involved creating and promoting investment opportunities that he knew were not legitimate. He used misleading and false information to convince people to invest money with him, and then used that money for personal gain rather than investing it as promised. This kind of fraud can have devastating consequences for the individuals who fall victim to it, as they may lose their life savings or be left with financial ruin.
In addition, Richards' actions were not a one-time mistake, but rather a pattern of fraudulent behavior that continued over a period of years. This suggests that he was not simply making a careless error, but rather knowingly and intentionally engaging in criminal behavior.
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Which area of intellectual property law did this case address?
copyright
trademark
trade secrets
right of publicity
Answers
Answer:
A is correct :)
Explanation:
Answer:A is correct i took the assingment trust me!
Explanation:
How can the government efficiently encourage an optimal level of research and
development?
O All of these answers
Provide grants to academic and private researchers
O Fund research directly
O Enforce an effective patent system
Answers
Answer:
Enforce an effective patent system
Explanation:
Patent is defined as the government authority that bestows the full right and title of ownership to an investor in order to keep others away from making and selling such invention for a defined period of time.
The enforcement of effective patent system serves as incentives for optimal level of research and development as researchers feel recognized for their efforts and will be willing to do more as they know that inventions are now protected from duplication by others . Moreover , returns in investment are now guaranteed.
governments promote and regulate natural monopolies in order to:
(A) Take on the costs of providing essential services.
(B) Maximize profits on goods that all citizens buy.
(C) Discourage new businesses from forming
(D) Compete with the private sector producing consumer goods.
Answers
Answer: A
Explanation: take on the costs of providing essential services
Governments promote and regulate natural monopolies in order to take on the cost of providing essential services. Therefore, option A is the correct option.
What are essential services?Essential services are those services that are provided by the government at a low cost or no cost at all. Such services are basic and essential in nature at the same time. The services are basic, such as hospital and medical care, education, food, and water, and so on.
The reason behind the monopoly of the government on essential goods is the welfare of the citizens and not profit-making like private organizations. Natural monopolies are encouraged and regulated by governments in order to cover the expense of providing important services. As a result, choice A is the best one.
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two benefits of good customer service
Answers
Find the two period moving average for year 2008
Answers
The two-period moving average for year 2008 is 79.75.
To find the two period moving average for year 2008, you need to add the values of 2008 and 2007 and divide the result by 2.
The two-period moving average is a simple smoothing technique that is widely utilized in technical analysis.
It is used to smooth out fluctuations in data in order to better distinguish underlying trends and cyclical patterns.
It is calculated by adding the values of two consecutive periods and dividing the result by two.
Then, by sliding the calculation window to the right, the next two-period average is calculated.
This is repeated until the end of the data series.
To calculate the two-period moving average for 2008.
Add the values of 2008 and 2007.
2008: 80.6
2007: 78.9
Sum = 80.6 + 78.9 = 159.5
Divide the sum by 2.159.5 / 2 = 79.75.
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(a) An amount of $100 is deposited into an account at the end of the 1st year, after which payments of $200, $400, $600,... are deposited at the end of every 2 years, that is, there will be a payment of $200 at time 3, a payment of $400 at time 5, and so on. The last payment will be made at the end of the 15th year. Determine the present value if the annual effective rate of interest is 2%. Round your answer to the nearest cent. [7] (b) An annuity-due consists of a first payment of $100, with subsequent payments increased by 7% over the previous one until the 10th payment, after which subsequent payments are level at the amount of the 10th payment. If the effective rate of interest is 7% per payment period, determine the present value of this annuity-due with 20 payments. Round your answer to the nearest cent
Answers
The present value of the series of uneven cash flows and the annuity-due with increasing and level payments can be calculated by discounting each cash flow back to the present using the respective effective rates of interest.
(a) To calculate the present value of the series of uneven cash flows, we need to discount each cash flow back to the present using the given annual effective rate of interest of 2%. The first cash flow of $100 at the end of the 1st year does not need to be discounted since it is already at the present time. The subsequent cash flows of $200, $400, $600, and so on, occur every 2 years. We can treat these cash flows as a series of regular cash flows of $200 at the end of every 2 years. We can use the present value of an ordinary annuity formula to calculate the present value of these cash flows:
Present Value = \($100 + $200/(1 + r)^2 + $200/(1 + r)^4 + $200/(1 + r)^6 + ... + $200/(1 + r)^30\)
where r is the annual effective rate of interest (2% in this case). By substituting the values and calculating the sum, we can find the present value of this series of cash flows.
(b) For the annuity-due with increasing payments followed by level payments, we need to calculate the present value of each payment and then sum them up to find the total present value. The first payment is $100 and subsequent payments increase by 7% over the previous one until the 10th payment. After the 10th payment, subsequent payments remain constant at the amount of the 10th payment. We can use the present value of an annuity-due formula to calculate the present value of these cash flows:
Present Value = \($100/(1 + r) + ($100 * (1 + g))/(1 + r)^2 + ($100 * (1 + g)^2)/(1 + r)^3 + ... + ($100 * (1 + g)^10)/(1 + r)^11 + ($100 * (1 + g)^10)/(1 + r)^12 + ... + ($100 * (1 + g)^10)/(1 + r)^30\)
where r is the effective rate of interest (7% per payment period) and g is the growth rate of subsequent payments (7% in this case). By substituting the values and calculating the sum, we can find the present value of this annuity-due with 20 payments.
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Why very few subsistence economies exist today
Answers
Answer:
As previously mentioned,
subsistence markets are
extremely vulnerable to
external influences.
Because of this
vulnerability, these economies are
becoming more scarce around the
world. In the past, for example, large
populations of indigenous peoples lived
throughout North America.
Question 1 (20 marks) What is the influence of growth on the development of a country? Give some examples.
Answers
Economic growth, which refers to an increase in a country's production of goods and services over time, can have several positive impacts on development.
Some of the influences of growth on the development of a country include:
1. Increased employment opportunities: Economic growth often leads to the expansion of industries, resulting in more job opportunities for the population. This helps to reduce unemployment rates and improve living standards.
2. Poverty reduction: With sustained economic growth, there is a higher likelihood of poverty reduction. As incomes rise and job opportunities increase, more individuals and households can escape poverty and improve their standard of living.
3. Infrastructure development: Economic growth often necessitates the development of infrastructure such as roads, bridges, ports, and telecommunications networks.
4. Enhanced access to education and healthcare: Economic growth generates additional resources that can be allocated towards social sectors such as education and healthcare.
5. Technological advancements: Growth can stimulate innovation and technological advancements, leading to increased productivity and efficiency.
Examples of countries that have experienced significant growth and development include:
- South Korea: Through sustained economic growth, South Korea transformed from a war-torn country to a developed nation. It focused on industries such as electronics, automobile manufacturing, and shipbuilding, which propelled its economic development and raised living standards.
- China: Over the past few decades, China has achieved remarkable economic growth, lifting millions of people out of poverty. It has become a global manufacturing hub and has invested heavily in infrastructure development, education, and healthcare.
- Singapore: With limited natural resources, Singapore focused on building a knowledge-based economy driven by innovation and high-value industries.
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