Economic growth Assignment Example | Topics and Well Written Essays - 250 words

Economic issue - Assignment ExampleViele Accounting. Pg 224-225, Question p6a) Truck 28200 Notes collectible 28200b)Truck 28200 Capital lease liability (4.6229 * 6100) 28200Depreciation Expense 4700 Accumulated Depreciation 4700c)Interest Expense 2256Capital Lease Liability 3844 Cash 6100d)The expenses for the eldest grade are Interest Expense and Depreciation = 2256 + 4700 = $6956Somers and Seville. Exploration 8. Chapter 6 pg 118.a)67.38 is the population in our base year 1980. We are considering the branch rate from this year which is around 102% or 1.206. This shows the rate of increase in population each year from 1980.b)67.38. (1.206)10 = 438.53 Million.McConnell and Brue pg 151. Chapter 8. Study Question 1 and 2.Real gross domestic product growth Rate = (31200-30000)/30000 * 100 = 4%GDP per Capita in year 1 = 30000/100 = 300GDP Per Capital in year 2 = 31200/102 = 305.9GDP per capita growth = (305.9-300)/300 = 1.96%Economic growth is a measure of the increase in the produc tive potential of a country. It is important because it reduces or lessens the problem of scarcity. Since it helps the sparing to produce more, more goods are produced and everyone has more goods for consumption and as a result, living standard in the economy increases. This is why economists rate sparing growth as a matter of great importance.We can use the 70 rule to determine the effect of the difference between 2.5 and 3 percent of economic growth over few decades.If an economy is growing at 2.5%, the economic growth or total output will double from the current level in 70/2.5= 28 years.