According to the rule of 70, if a country grows at an average rate of 2 percent per year, what would happen after 35 years?
A. The country's nominal GDP would double.
B. The country's real GDP would double.
C. The country's real GDP per capita would double.
D. The country's nominal GDP per capita would double.
Answer: C
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Over the last 50 years, how has the women's labor force participation rate changed? What are reasons for this change?
What will be an ideal response?
Roughly what was the change in Columbia's per capita GDP between 1960 and 2011?
A) 25% B) 90% C) 150% D) 185%
The mixed economy is the dominant economic system in the world because
a. custom and religion have no influence on economic decisions in these systems b. pure capitalist economies have placed more control in the hands of individuals in recent years c. there is public (i.e., governmental) ownership of resources but regulation of government by individuals reduces some of the flaws of pure capitalism d. there is private ownership of property but government regulation of individuals reduces some of the flaws of pure capitalism e. governments in pure command economies have increased their control over decision-making in recent years
In Adam Smith's competitive market economy, the question of what goods to produce is determined by the:
a. "invisible hand" of the price system. b. "invisible hand" of government. c. "invisible hand" of public interest. d. "visible hand" of laws and regulations.