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What might the impact of a flat world be on your standard of living?
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- Urgently need Only typed answer . No handwritten answer What might the impact of a flat world be on your standard of living?How do you see the trade-off between the economy and theenvironment? Which is more important? Is it possible toimprove both at the same time? Explain.An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
- Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar? How are they different?Most countries, including the United States, importsubstantial amounts of goods and services from othercountries. Yet the chapter says that a nation can enjoya high standard of living only if it can produce alarge quantity of goods and services itself. Can youreconcile these two facts?how do gains in worker productivity lead to gains in per capita GDP a- As workers produce more, their wages will rise an d they will have more disposable income for consumption, leading to a rise in GDP per capita. b- The amount a worker can produce
- Economics Alexㅤspendsㅤallㅤhisㅤincomeㅤonㅤblueberriesㅤandㅤstrawberries.ㅤHisㅤMarginalㅤUtilityㅤof ㅤblueberriesㅤisㅤMUB=100-B.ㅤHisㅤtotalㅤutilityㅤofㅤstrawberriesㅤisㅤUS=900+150S-S2.ㅤFindㅤAlex’s ㅤincomeㅤifㅤtheㅤpriceㅤofㅤblueberriesㅤisㅤPB=$8/kg,ㅤtheㅤpriceㅤofㅤstrawberriesㅤisㅤPS=$10/kg,ㅤandㅤAlex ㅤconsumesㅤ30kgㅤofㅤblueberries.Does a hi~her rate of saving lead to higher growthtemporarily or indefmitcly?a) If a nation in which the volume of goods and services is growing by 5 percent per year and its if the population is growing more than 5 percent a year, the increase per capita will be more than 5 percent. True False b) Individuals have two choices with their income: they can spend it or save it. True False
- The real GDP per person in a country A has grown about 4 percent per year. When this country' GDP will be double?An economy produces 10 cookies in year 1 at aprice of $2 per cookie and 12 cookies in year 2 ata price of $3 per cookie. From year 1 to year 2, realGDP increases bya. 20 percent.b. 50 percent.c. 70 percent.d. 80 percent.calculate the most economic quantity to order each time for 2023 (expressed to next whole number)
