Which of the following is the compound growth rate formula?
a. GDP at starting date × (1 + growth rate of GDP)years = GDP at end date
b. GDP at starting date/(1 + growth rate of GDP)years = GDP at end date
c. GDP at starting date ? GDP at end date = growth rate of GDPyears
d. GDP at starting date × growth rate of GDPyears = GDP at end date
a
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Maxine and Deborah both got hair extensions, costing each of them $300. Maxine's hair was done perfectly. She enjoyed the new look. The job on Deborah's hair was all botched u
A) Deborah did not incur a sunk cost. B) Maxine did not incur a sunk cost. C) Both Maxine and Deborah each incurred a $300 sunk cost. D) Only the hairdresser incurred a sunk cost.
A price increase will always cause a firm’s revenue to fall because they will sell less of the good.
Answer the following statement true (T) or false (F)
One argument advanced in favor of not increasing the income tax on individuals with high income is that
A) increasing income tax increases wealth which contributes to increases in GDP. B) increasing the income tax on these individuals will reduce economic efficiency. C) not increasing income taxes will discourage corporations from increasing investment. D) increasing the income tax affects mostly middle-income and low-income individuals who are already paying heavy income taxes.
Actions against alleged violators of the antitrust statutes may be initiated by the Justice Department, by the Federal Trade Commission, and by private plaintiffs
a. True b. False Indicate whether the statement is true or false