Using the Rule of 70, if the country of Huttodom's current growth rate of real GDP per person was 10 percent a year, how long would it take the country's real GDP per person to double?
A) 0.7 years
B) 20 years
C) 7 years
D) 10 years
C
You might also like to view...
Use the following diagram to answer the next question.
Which of the following would cause a move from MS1 to MS2?
A. The banking system decides to hold less excess reserves and make more loans. B. The federal funds rate increases. C. The discount rate is increased by the regional Federal Reserve banks. D. The Federal Open Market Committee decides to sell bonds.
In June 2012, the U.S. labor force consisted of 142,415,000 employed and 12,749,000 unemployed. The U.S. unemployment rate for June 2012 was about
A) 7.4 percent. B) 8.2 percent. C) 9.0 percent. D) 11.2 percent.
If a firm that repairs both motorcycles and cars is able to do so at a lower cost than a firm that does only one or the other, this would be an example of
A) economies of scope. B) economies of scale. C) monitoring. D) increasing transactions costs.
The branch of economics which studies the behavior of entire economies is called
A) public economics. B) macroeconomics. C) microeconomics. D) normative economics.