WHY ARE BLACK PEOPLE POOR

Amathematical approximation called the rule of 70 tells us that the number of years that it will take something that is growing to double in size is approximately equal to the number 70 divided by its percentage rate of growth. thus, if mexico's real gdp per person is growing at 7 percent per year, it will take about 10 years(=70/7) to double. apply the rule of 70 to solve the following problem. real gdp per person in mexico in 2005 was about $11,000 per person, while it was about $44,000 per person in the u. s. if real gdp per person in mexico grows at the rate of 5 percent per year: how long will it take mexico's real gdp per person to reach the level that the united states was at in 2005? (hint: how many times would mexico's 2005 real gdp per person have to double to reach the u. s.'s 2005 real gdp per person?

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?