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

Economic growth - Assignment Example Viele Accounting. Pg 224-225, Question p6 a) Truck 28200 Notes Payable 28200 b) Truck 28200 Capital lease liability (4.6229 * 6100) 28200 Depreciation Expense 4700 Accumulated Depreciation 4700 c) Interest Expense 2256 Capital Lease Liability 3844 Cash 6100 d) The expenses for the first year are Interest Expense and Depreciation = 2256 + 4700 = $6956 Somers 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 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 GDP growth Rate = (31200-30000)/30000 * 100 = 4% GDP per Capita in year 1 = 30000/100 = 300 GDP Per Capital in year 2 = 31200/102 = 305.9 GDP per capita growth = (305.9-300)/300 = 1.96% Economic growth is a measure of the increase in the productive potential of a country. It is important because it reduces or lessens the problem 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 standard in the economy increases. This is why economists rate economic 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.

Education in Texas Essay Example | Topics and Well Written Essays - 750 words

Education in Texas - Essay Example Origins of Public Education in Texas The origins of the public education system in Texas grew out of the dissolution of an alliance between Mexico and Texas. Prior to 1835 the agreement between the two states stipulated that Mexico be responsible for education in that particular region of the United States. Because of the dissolution of the agreement and the enactment of the Texas Declaration of Independence of 1836 the responsibility of educating the public shifted from Mexico to the State of Texas. Major Milestones The education system in Texas has progressively evolved over the last 150 years. The development of the education system grew in response to the needs of the citizens and the demands of regional commerce. Some of the major historical milestones of the education system in Texas include: 1840 – First Anglo-American school opened; 17,712 acres of land in each county in the state designated for public schools (Texas Education Agency, 2011). 1845 – A specific pe rcentage of annual tax revenue set aside for free public education; creation of the Permanent School Fund (McClellan, 2011). 1876 – State Constitution of 1876 set aside 45 million acres of public lands for schools; funds held within the Permanent School Fund invested in bonds (Texas Education Agency, 2011). 1884 - School laws rewritten; re-creation of the duties and responsibilities of the State Superintendent of Education; ad valorem tax affirmed to create a consistent source of income for the public education system (Texas Education Agency, 2011). 1885 - Statewide school accreditation system developed and implemented (Texas Education Agency, 2011). 1949 - Senator A. M. Aikin and State Representative Claud Gilmer organize committees to reform education system (Gilmer-Aikin laws); teachers’ salaries and standardization of teaching credentials established (Erekson, 2010, p. 1033) 1957 – Assessment and evaluation of the effectiveness of the Gilmer-Aikin laws (Texa s Education Agency, 2011). 1984 - House Bill 72 increased teachers’ salaries and restructured school financing enabling a shift of resources from wealthier school districts to poorer performing districts (Texas Education Agency, 2011). 2001- No Child Left Behind (U.S. Department of Education, 2011). Reforms and Revisions The development of the education system, management agencies, state municipalities, along with individual school districts throughout the State has been an ongoing process. Pivotal events in the United States’ history such as the Civil War, World Wars I and II, and integration influenced the formation of the education system in Texas. From the inception and establishment of the first public school in 1840, leaders, elected administrators, and lawmakers sought ways in which to deliver the highest quality of education available for the residents of Texas (Texas Education Agency, 2011). Provisions for permanent funding for the education system did not occ ur until 1845 in which the Permanent School Fund was created. The fund created specific financing options for educating students in Texas; its purpose was to lighten the burden on citizens paying taxes and to produce an alternate way of funding public education. The predecessor of the Permanent Sch