If GDP grew 3% in 1970, 2.2% in 1971 and 2.5% in 1972 then, what is the average annual growth rate over this period?
A) 5% B) 4% C) 2.6% D) -2.2%
C
You might also like to view...
If the exchange rate changes from $2.00 = £1 to $2.01 = £1 then
A) the dollar has appreciated. B) the British pound has depreciated. C) the dollar has depreciated. D) the British pound has stayed constant in value.
According to the life-cycle hypothesis ________
A) households consume on the basis of their current income and liabilities B) household consumption as a percentage of income varies over one's lifetime C) current income is a function of future income D) cycling to work everyday allows one to live a longer life
In the aggregate demand and aggregate supply model, an increase in the growth rate of the velocity of money differs from an increase in money supply growth rate in that:
A. the SRAS curve will eventually shift back to its original position after an increase in money supply growth. B. the AD curve will eventually shift back to its original position after an increase in velocity growth. C. the SRAS curve will eventually shift upwards after an increase in velocity growth. D. the AD curve will eventually shift back to its original position after an increase in money supply growth.
If the annual inflation rate is 5 percent a year, about how many years will it take for the price level to double?
A. 10 years B. 16 years C. 14 years D. 12 years