If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
A. growth rate in 20 years.
B. growth rate in 70 years.
C. real GDP per capita in 20 years.
D. real GDP per capita in 70 years.
Answer: C
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Which of the following statements is NOT a function of the Fed?
A) It ensures that commercial banks report their assets and liabilities with accuracy. B) It monitors the stockholders' equity of commercial banks. C) It oversees interbank payment systems. D) It regulates the various stock markets in the economy.
Suppose a decrease in the supply of wheat results in an increase in revenue. This indicates that
A) the demand curve for wheat must be vertical. B) the resulting increase in price is proportionately greater than decrease in quantity sold. C) the decrease in quantity sold is proportionately larger than the resulting change in price. D) the supply curve for wheat must be vertical.
Assume that you purchased a $1,000 perpetual bond and the interest rate on that bond declined from 5 percent to 2 percent. Thus,
a. the bond price increased by $1,500. b. you could sell this bond at a capital gain. c. if this was anticipated, the speculative demand for money fell. d. All of the above e. None of the above
Which of the following is a characteristic of a perfectly competitive market? a. Homogeneous products
b. Barriers to entry. c. Substantial expenditures on advertising. d. All of the above.