Productivity of Quantity of Labor Year Labor 2,000 2,000 $200 210 3 2,000 210 The table shows the quantity of labor (measured in hours) and the productivity of labor (measured In real GDP per hour) In a hypothetical economy in three different years. Between Year 1 and Year 2, real GDP Increased by Multiple Choice 1.5 percent. 2.5 percent. 5.0 percent. 6.0 percent.

Q: Elizabeth went on a fabulous vacation in May and racked up a lot of charges on her credit card. When…

A: Average Daily Balance = sum of (Daily balance * no. of days) / total number of days

Q: How does the credit card company calculate the interest payment?

A: The credit card has been an important tool to increase the purchasing power. This facility has…

Q: Why would someone choose a fixed rate loan over a variable rate loan?

A: In the field of economics, a loan is defined as the act of lending money or resources by one party…

Q: How to save towards purchasing a home

A: Savings are amount of money that remain after subtracting a person's consumer spending from their…

Q: The advantage of a loan is that: its transaction costs are low. it can be tailored to the needs of…

A: Loan: A loan is a sum of money borrowed from a lender with the agreement that it will be repaid,…

Q: What is Retirement Savings in Canada and what is its importance?

A: Retirement savings in Canada refers to the money that individuals set aside during their working…

Q: Use PMT= 1- -nt to determine the regular payment amount, rounded to the nearest dollar. Your credit…

A: given that, Principal(P) =$3200 rate of interest(r) = 0.12 time (t) = 2 years n = 12

Q: How do you build housing in wealthy neighborhoods?

A: It's generally not feasible because of the value of the land. In wealthy areas, land is expensive…

Q: What is fractional ownership?

A: Ownership:The term ownership refers to the legal right or exclusive right over the commodity. For…

Q: lla Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she…

A: Interest amount =$187.5 Loan amount =$12000 Time=3 months

Q: When investing or saving money for retirement, which type of interest would benefit the most from?…

A: When investing or saving money for retirement which type of interest would benefit the most from?…

Q: could you show how to determine the bond's present value without a calculator?

A: When interest rate rises to 4%: Given, Face value= future value= $1,000 Yield to maturity= 4% Time=…

Q: Summarizes some of the interest formulas?

A: Simple interest = (P*R*T)/100 where, P : Principal amount            R : Rate of interest per annum…

Q: How Do You Manage Your Credit Card Debt?

A: Credit cards have become a everyday part of our lives and is convenient to use. It is often, that we…