Omega has a real GDP per capita of $5,000. If it has a constant 6% rate of growth, how many years will it take before Omega has a real GDP per capita of $40,000?

A. 8
B. 12
C. 36
D. 72


Answer: C

Economics

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List three reasons why oligopolies are considered to be inefficient

What will be an ideal response?

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All types of capital

a. are forms of resources that can be used in future production b. require a physical existence c. earn an economic rent d. yield profits for their owners e. require obtaining more education and job skills

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The average total cost curve and the average variable cost curve grow closer as output increases because

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Economics