Concept explainers
Find the amount of money is generated for the economy for every $500 that government provides.
Answer to Problem 55PPS
$2500 is generated for the economy for every $500 that government provides.
Explanation of Solution
Given:
A state government decides to stimulate its economy by giving $500 to every adult. The government assumes that everyone who receives the money will spend 80% on consumer goods and that the producers of these goods will in turn spend 80% on consumer goods. How much money is generated for the economy for every $500 that government provides?
Concept Used:
This is a geometric series.
The total number of revolutions done by the tire before it stops spinning is the sum of the series. Because
Calculation:
This is a geometric series.
The total number of revolutions done by the tire before it stops spinning is the sum of the series. Because
$2500 is generated for the economy for every $500 that government provides.
Thus, $2500 is generated for the economy for every $500 that government provides.
Chapter 10 Solutions
Glencoe Algebra 2 Student Edition C2014
Additional Math Textbook Solutions
Linear Algebra and Its Applications (5th Edition)
College Algebra (7th Edition)
College Algebra
University Calculus: Early Transcendentals (4th Edition)
- Algebra and Trigonometry (6th Edition)AlgebraISBN:9780134463216Author:Robert F. BlitzerPublisher:PEARSONContemporary Abstract AlgebraAlgebraISBN:9781305657960Author:Joseph GallianPublisher:Cengage LearningLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
- Algebra And Trigonometry (11th Edition)AlgebraISBN:9780135163078Author:Michael SullivanPublisher:PEARSONIntroduction to Linear Algebra, Fifth EditionAlgebraISBN:9780980232776Author:Gilbert StrangPublisher:Wellesley-Cambridge PressCollege Algebra (Collegiate Math)AlgebraISBN:9780077836344Author:Julie Miller, Donna GerkenPublisher:McGraw-Hill Education