Divided equally among the population

Assignment Help Business Economics

Reference no: EM131112383

In 2012 Forbes magazine listed Bill Gates, the founder of Microsoft, as the richest person in the United States. His personal wealth was estimated to be $66 billion. If there were 303 million people living in the United States that year, how much could each person have received if Gates’ wealth had been divided equally among the population of the United States? (Hint: A billion is a 1 followed by nine zeros while a million is a 1 followed by six zeros.)

Reference no: EM131112383

Questions Cloud

Loan principal and interest on the agreed upon date : On March 1, Emily loaned Billy $1,000. Emily charged a monthly interest rate of 0.10 percent on the loan. Billy repaid all of the loan principal and interest on the agreed upon date, March 31. If the price of the camcorder on March 1 was $1,000 and f..

Quantity theory of money states that money supply : The quantity theory of money states that the money supply (M), velocity of money (V), price level (P), and real GDP (Y) are related by the equation . According to this equation, if velocity and real GDP are constant and the Federal Reserve decreases ..

Desire to maximize profits can work against racial : The desire to maximize profits can work against racial and other types of discrimination. To see this, consider two equally productive accountants named Ted and Jared. Ted is black, and Jared is white. Both can complete 10 audits per month. If the fi..

In ability-gender and performance standards : In Ability, Gender, and Performance Standards: Evidence from Academic Probation, Jason M. Lindo, Nicholas J. Sanders, and Philip Oreopoulos find evidence using regression discontinuity methods that being placed on academic probation increases the pro..

Divided equally among the population : In 2012 Forbes magazine listed Bill Gates, the founder of Microsoft, as the richest person in the United States. His personal wealth was estimated to be $66 billion. If there were 303 million people living in the United States that year, how much cou..

Total value of all corn-production subsidies : In 2009, it was estimated that the total value of all corn-production subsidies in the United States totaled about $4 billion. The population of the United States was approximately 300 million people that year. a. On average, how much did corn subsid..

Digby expands operations in asia pacific in coming year : Assume Digby expands operations in Asia Pacific in the coming year. In doing so, they have added capacity to fill all demand in-house and have increased automation to reduce labor cost by 10%. What will Daze's contribution margin be in Asia Pacific f..

What is the average output per worker : Suppose that 20 workers were required in 2010 to produce 20,000 bushels of wheat on a 1,000-acre farm. a. What is the average output per acre? bushels per acre. What is the average output per worker?

Suppose that both wheat and corn have an income elasticity : Suppose that both wheat and corn have an income elasticity of 0.2. a. If the average income in the economy increases by 2 percent each year, by what percentage does the quantity demanded of wheat increase each year, holding all other factors constant..

User Account

All Pages