Using the rule of 70, if the GDP per capita growth rate in the United States is 3.5 percent, real GDP per capita doubles every:
A. 20 years.
B. 24.5 years.
C. 35 years.
D. 70 years.
Answer: A
You might also like to view...
The fact that it takes time for government to identify and recognize a problem is one reason for the occurrence of
A) implementation lags. B) outside lags. C) inside lags. D) structural lags.
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its average cost?
a. $100 b. $20 c. $65 d. $32
In the 1970s and early 1980s, the U.S. economy experienced
A) stagflation. B) low inflation and low unemployment. C) high inflation and low unemployment. D) high inflation and high unemployment. E) a and d
Inflation will
A) increase aggregate demand. B) increase the quantity of real GDP demanded. C) decrease aggregate demand. D) decrease the quantity of real GDP demanded.