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A mathematical approximation called the rule of 70 tells us that the number of years that it will take something that is growing to double in size is approximately equal to the number 70 divided by its percentage rate of growth. Thus, if Mexico's real GDP per person is growing at 7 percent per year, it will take about 10 years ( = 70 ÷ 7) to double. Apply the rule of 70 to solve the following problem. Real GDP per person in Mexico in 2005 was about $11,000 per person, while it was about $44,000 per person in the United States. If real GDP per person in Mexico grows at the rate of 5 percent per year, about how long will it take Mexico's real GDP per person to reach the level that the United States was at in 2005?
At the equilibrium interest rate, what are the quantity of money supplied, the total quantity of money demanded, the amount of money demanded for transactions, and the amount of money demanded as an asset
How would you go about gathering the relevant information about benefits? Whose benefits would you include?
cool-aire corporation manufacturers a line of room air conditioners. Its break even sales level is 33,000 units. Sales are approximately normally distributed. Expected sales next year are 40,000 units with a standard deviation of 4,000 units
A small nation permits free trade in good X. At the good's free-trade price of $8, domestic firms supply 6 million units and imports account for 4 million units. Recently the small country has ereted trade barriers with the result that imports hav..
Given the relationship between the level of significance and the level of confidence when you evaluate the probability of occurrence what is the level of confidence if the significance level is .08
A university spent $1.8 million to install solar panels atop a parking garage. These panels will have a capacity of 500 kw, have a life expectancy of 20 years and suppose the discount rate is 10%.How big of a grant would make this project worthwhile.
Discuss ways that a buying spree like that of Mr Van der Hoeven can create problems for the group auditor?
Suppose that unionization levels-up the wage to $130: Both types of teachers earn a wage of $130. Use your supply curves to compute the number of average and high-quality teachers. How has the composition of the workforce changed?
According to classical macroeconomic theory, monetary policy shocks are "neutral." Explain what this means. Based on that theory, how would a 5% increase in a nation's money supply affect its real wage rate (W/P), all else equal
Suppose the demand function for a firm's product is given by In Qdx=3-0.5 In Px-2.5 In Py In M 2 In A Where Px= $10, Py= $4, M= $20,000, A= $250 A. Determine the own price elasticity of demand, and state whether demand is elastic, inelastic, or unita..
question 1 suppose that oil prices rise sharply for years as a result of a war in the middle east. illustrate with a
Discuss the difference between real GDP and nominal GDP and does GDP accurately reflect our country's productivity?
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