A country will roughly double its GDP in twenty years if its annual growth rate is _____
a. 12 percent
b. 7.5 percent
c. 3.5 percent
d. 2.5 percent
c
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Autonomous expenditure includes
A) consumption expenditure, investment, and net taxes. B) investment, government expenditure on goods and services, and exports. C) consumption expenditure, investment, and imports. D) investment, government expenditure for goods and services, and imports. E) consumption expenditures, investment, and exports.
Which of the following does NOT describe a function of money?
A) unit of account B) barter C) medium of exchange D) store of value
In the long run, firms in monopolistic competition produce at a level that is ________ the efficient scale of output
A) less than B) equal to C) more than D) All of the above are possible depending on market conditions.
An initial injection of money into the banking system will create new money supply through a sequence of excess reserves being transformed into loans. New money creation eventually ends because required reserves shrink loanable excess reserves in each round of new money creation
Indicate whether the statement is true or false