Business College

Assume real per capita GDP in North Metropolania is $4,000 while in East Quippanova it is $1,000. The annual growth rate in North Metropolania is 2.33%, while in East Quippanova it is 7%. How many years will it take for East Quippanova to catch up to the real per capita GDP of North Metropolania?

a. about 10 years
b. about 30 years
c. about 40 years
d. about 120 years
e. East Vice City will never be able to catch up with North Midgar.

What will the income of the two countries be when it is equal?

Answers

Answer 1

Answer:

B

Explanation:

Rule of 70

70/2.33=30.04

Income will be $8,000

Related Questions

Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $107,000 in sales during the second quarter of this year. If it began the quarter with $18,700 of inventory at cost and purchased $72,700 of inventory during the quarter, its estimated ending inventory by the gross profit method is:

Answers

Answer:

$16,500

Explanation:

The computation of the estimated ending inventory is given below:

As  We know that

Cost of goods sold = Beginning inventory + purchase made - ending inventory

And, the

Sales - gross profit = Cost of goods sold

So,

$107,000 - $107,000 × 30% = Cost of goods sold

Therefore, the cost of goods sold is

= $107,000 - $32,100

= $74,900

And, finally the ending inventory is

$74,900 = $18,700 + $72,700 - ending inventory

$74,900 = $91,400  - ending inventory

So, the ending inventory is

= $91,400 - $74,900

= $16,500

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