If a country has a three percent growth rate, approximately how many years will it take for that country’s economy to double in size?
a. 33 years
b. 24 years
c. 20 years
d. 18 years
b. 24 years
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The emerging market economies are
A) the nations with the highest standards of living. B) most of the nations of Western Europe. C) in transition from state-owned production to free markets. D) the largest grouping including the nations of China and India. E) the nations that are currently agricultural in nature.
Which of the following statements regarding U.S. economic growth is NOT correct?
A) Over the past 100 years, on the average real GDP per person grew 2 percent a year. B) The average annual growth rate of real GDP per person in the United States was rapid during World War II. C) In the 1930s, real GDP fell well below its trend. D) The growth rate of real GDP per person accelerated between 1973 to 1984.
Which of the following accurately depicts the situation of India's trade in services and what it might mean for the global economy?
A) It is not perceived as threatening to the industrialized nations so it is likely to grow without any impact. B) Because it is nothing new, other economies have had time to adjust. C) It creates only harm to other national economies. D) It may lead to protectionist sentiment and policies in other nations as comparative advantages shift.
The following is an example of risk aversion
a. those applying for a well-paid job tend to be unqualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is the most qualified d. Initial Public Offerings (IPOs) seek investors when prospects look good