If it took 20 years for real GDP to double, what was the growth rate of real GDP?

A) 4.5 percent
B) 3.0 percent
C) 3.5 percent
D) 4 percent
E) 5 percent


C

Economics

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The Heckscher-Ohlin model is famous for being elegant and mathematically sophisticated, yet failing to describe reality. One manifestation of this fact is Trefler's Case of Missing Trade. Explain what exactly is missing

In what sense is it missing? How would you explain why it is missing? How can a relaxation of the identical production functions explain the case of the missing trade? How did the results obtained by Davis and Weinstein strengthen support for the validity of the HO model?

Economics

In a long-run equilibrium in a perfectly competitive market, firms are selling at a price equal to average cost

a. True b. False Indicate whether the statement is true or false

Economics

By far, the best way to measure the standard of living of people in a country is the value of the country's GDP per capita

a. True b. False Indicate whether the statement is true or false

Economics

Which of the following is used to illustrate an independent relationship between two variables?

A. An upward-sloping curve B. A downward-sloping curve C. A hill-shaped curve D. A horizontal or vertical line

Economics