If real GDP grows at a constant rate of 2 percent per year, using the "rule of 72" it will take approximately ___ years for real GDP to double
a. 15
b. 20
c. 10
d. 36
Answer: d. 36
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Which of the four types of decision makers in the U.S. economy plays the largest role?
a. U.S. firms and government because they produce the products that households consume b. U.S. households because they supply goods to the product markets and are demanders in resource markets c. foreign households, firms, and governments because they greatly outnumber those of the United States d. U.S. firms and government because they create employment for domestic households and produce goods and services e. U.S. households, as buyers in product markets and sellers in resource markets
If you invest $2,500 in a mutual fund with a 5 percent front-end load, _____
a. $50 will be used to pay for the sales charge and $2,000 will be invested in the fund b. there will be no sales charge and the entire $2,500 will be invested in the fund c. the fees for the fund manager will be paid only after a period of 20 years d. $125 will be paid to the fund manager and $2,375 will be invested in the fund e. a fixed amount of $250 will be paid to the fund manager every year
The largest union today is the _____________________.
Fill in the blank(s) with the appropriate word(s).
If a perfect competitor's ATC curve is above its demand curve for every possible output the firm is
A. losing money in the short run. B. losing money in the long run. C. making a profit in the short run. D. making a profit in the long run.