The rule of 70 provides an estimate of:
a. how long it will take for a nation's economy to double in size.
b. the growth rate of a nation's gross domestic product per capita.
c. the level of a nation's foreign reserves
d. how long it will take for a nation's population to triple in size.
a
You might also like to view...
Ceteris paribus, the money supply becomes smaller when
A. The Federal Reserve reduces the reserve requirement. B. An individual deposits currency into her transactions account. C. A bank uses its excess reserves to make a loan. D. A loan is repaid to the banking system by a bank customer.
The marginal productivity principle has some relevance to organizing production in a socialist society.
Answer the following statement true (T) or false (F)
Which of these statements about the productivity of resources is true?
a. While labor can become more productive, natural resources cannot. b. Less productive resources result in more sustainable economic growth. c. Capital, labor, and natural resources can all become more productive. d. It is not possible to make a resource more productive.
According to the Lucas supply function, ________ no effect on real output.
A. any announced policy change has B. any unanticipated policy change has C. only announced monetary policy changes have D. only announced fiscal policy changes have