We can estimate that if a country grows at 7 percent per year, it will double its real GDP per capita in:
A. 2 years.
B. 20 years.
C. 35 years.
D. 10 years.
D. 10 years.
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One way to achieve faster growth in GDP per person is to increase the
A) number of women working in the home rather than in the workforce. B) growth rate of the quantity of money. C) growth rate of human capital. D) growth rate of the population. E) limits on international trade in order to keep more of total spending on domestically produced goods.
In the above figure, if the single-price monopolist charges a price that maximizes its profits, consumer surplus is
A) area hacd. B) area bac. C) area jae. D) area jbce.
If the cross elasticity of demand for potato chips and pretzels equals 1.5,
A. potato chips and pretzels must both be luxury goods. B. either potato chips or pretzels must be a luxury good, and both may be luxury goods. C. potato chips and pretzels must be substitutes. D. potato chips and pretzels must be complements.
All Gini coefficients must lie between 0 and 1. The lower the value
A) the closer the income distribution is to being equal. B) the lower the degree of poverty according to the federal government's definition of poverty. C) the greater the degree of poverty. D) the more unequal the income distribution.