According to the "Rule of 70," it will take 4 years for real GDP per capita to double when the growth rate of real GDP per capita is
A) 4 percent.
B) 12.25 percent.
C) 17.5 percent.
D) 28 percent.
Answer: C
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If the government sector is running a deficit of $120 million and the private sector is running a surplus of $200 million, then net exports equal
A) $80 million surplus. B) $320 million surplus. C) $80 million deficit. D) $320 million deficit.
Marginal product of labor
A) is the derivative of the production function with respect to a one unit change in labor. B) is the derivative of the production function with respect to a one unit change in capital. C) is the derivative of the marginal cost curve. D) none of these choices.
Which of the following events could increase the demand for labor?
a. a decrease in output price. b. a decrease in the amount of capital available for workers to use. c. an increase in the marginal productivity of workers. d. All of the above are correct.
A natural monopoly is
A. A monopoly that always benefits society even when it is unregulated. B. An unregulated monopoly. C. An industry in which one firm can achieve economies of scale over the entire range of market supply. D. An industry that is dominated by a single firm.