Growth is a significant economic goal. Explain
Growth is a significant economic goal. Explain?
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Growth is an significant economic goal because it means more and more material abundance and ability to meet the economizing problem. Growth decreases the burden of insufficiency.
The arithmetic growth is imposing. Using the “rule of 70,” a growth rate of 2% annually would take 35 years for GDP to double, but a growth rate of 4% annually would only take about 18 years for GDP to double. (The “rule of 70” uses the absolute value of a rate of change, divides it into 70, and the result is the number of years it takes the underlying quantity to double.)
Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?
Describe unequal burdens of unemployment exist?
When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I
Give a brief introduction of the term Cost Principle ?
Economics professors would attribute students’ higher rates of attendance on days while examinations are administered to the: (w) intensified needs to learn valuable material. (x) higher opportunity costs of missing set relative to other schedul
numbers of sellers in pure competition?
How Reciprocal Trade Agreements Act had goal of reducing tariffs?
Illustrate the Goals of Mixed Economy?
Illustrate Rational Behaviour of Economic Perspective?
Describe briefly Low financial leverage, low operating leverage?
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