The "rule of 70" is a formula for determining the approximate number of:
A. Years that it would take for a value (like real GDP) to expand 70 times
B. Years that it would take for a value (like real GDP) to double
C. Times a value (like real GDP) is a multiple of 70
D. Times one could double a certain value (like real GDP) over 70 years
B. Years that it would take for a value (like real GDP) to double
You might also like to view...
Using the midpoint method, if the price of an airline ticket from Orlando to Pittsburgh falls from $275 to $238, the percentage change in price is
A) 1442 percent. B) 14.42 percent. C) 15.54 percent. D) 13.45 percent. E) 68.00 percent.
In Lithasia, the opportunity cost of producing a chair is two tables and in Barylia, the opportunity cost of producing a chair is 1/2 table. Which of the following statements is true?
A) Barylia has a comparative advantage in producing chairs. B) Lithasia has a comparative advantage in producing chairs. C) Barylia has a comparative advantage in producing tables. D) Lithasia has a comparative disadvantage in producing tables.
How much the quantity of a good traded changes after a shift of the supply curve depends on
a. the size of the shift. b. the slope of the demand curve. c. whether the market is subject to price controls. d. All of the above are correct.
The longer any price change lasts over time, the
A. more difficult it is to alter quantity demanded. B. the more quickly quantity demanded will return to its original level. C. more quantity demanded will change. D. the longer the short-run equilibrium will continue to be the short-run equilibrium.