According to the rule of 70,
a. if a country is growing at 14% per year, its output will double in approximately 5 years.
b. if a country is growing at 10% per year, its output will double in approximately 7 years.
c. if a country is growing at 2% per year, its output will double in approximately 35 years.
d. all of the above are true.
d
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The regulatory agency that sets reserve requirements for all banks is
A) the Federal Reserve System. B) the Federal Deposit Insurance Corporation. C) the Office of Thrift Supervision. D) the Securities and Exchange Commission.
In spite of the stated goal of discouraging behavior, if a sumptuary tax is applied on _____, behavior will not change very much
a. a good with elastic demand b. a good with inelastic demand c. income d. wealth
A person weighing uncertainty and risk is judging the ______ or likelihood of a good or bad outcome,
a. Probability b. Perception c. Psychological extent d. Unwillingness
Regulation of monopolies is justified on the ground that a monopolist sells too less at a too high price
a. True b. False Indicate whether the statement is true or false