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

frugal ontogenesis - Assignment ExampleViele Accounting. Pg 224-225, Question p6a) Truck 28200 Notes Payable 28200b)Truck 28200 Capital lease financial obligation (4.6229 * 6100) 28200Depreciation Expense 4700 Accumulated Depreciation 4700c)Interest Expense 2256Capital Lease Liability 3844 change 6100d)The expenses for the first year 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 growth rate from this year which is around 102% or 1.206. This shows the rate of affix 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-ccc00)/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 th e productive potential of a country. It is important because it reduces or lessens the worry of scarcity. Since it helps the economy to produce more, more goods are produced and everyone has more goods for consumption and as a result, living archetype in the economy increases. This is why economists rate economic growth as a matter of huge importance.We can use the 70 rule to determine the effect of the difference between 2.5 and 3 share 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.