Suppose that in the future, real GDP per person grows 2 percent a year in the United States and 4 percent a year in China. It will take real GDP per person approximately ________ years to double in the United States and approximately ________ years to double in China.
A) 35; 8.75
B) 35; 17.5
C) 20; 10
D) 50; 25
E) 70; 35
B
You might also like to view...
Factory A can reduce emissions at a cost of $400 per ton. Factory B can reduce emissions at a cost of $100 per ton. In a system in which the government issues transferable pollution right at a price of $200 per ton:
a. Factory A can profit from selling its pollution rights to Factory B. b. Neither firm can profit from selling its pollution rights to the other. c. Factory B can profit from selling its pollution rights to Factory A. d. Both firms have an incentive to sell pollution rights.
The crowding-out effect can be:
a. Any of the answers are correct. b. partial. c. complete. d. zero.
If domestic returns are greater than foreign returns, then:
a. the spot rate is too high. b. the spot rate is too low. c. expectations of future exchange rates will change in the long run. d. There is no opportunity for arbitrage.
A consultant predicts that there is a 25% chance of earning $50,000 and a 75% chance of earning $100,000. What is the expected profit?
What will be an ideal response?