According to the "Rule of 70," it will take 4 years for real GDP per capita to double when the growth rate of real GDP per capita is
A) 4 percent. B) 12.25 percent. C) 17.5 percent. D) 28 percent.
C
You might also like to view...
According to information in the textbook, in the early West, many of the open lands were overgrazed. This was largely because
A. landowners charged ranchers a fee to graze their cattle. B. the lands were unowned. C. a government policy in effect at the time subsidized cattle production. D. none of the above
Suppose you have $400,000 saved up and purchase a medium-sized house for $200,000. Consider the following 2 scenarios:
i. The very next day, the prices of all houses, including the one you have just bought, double. ii. The very next day, the prices of all houses, including the one you bought, fall by half. Show that both scenarios increase your utility.
For a monopolistically competitive firm
A) price equals marginal revenue at all levels of output. B) price is less than marginal revenue at all levels of output. C) price is greater than marginal revenue at all levels of output except for the first unit. D) the demand curve is perfectly inelastic and marginal revenue is zero.
When buying a used car from a dealer, showing up in cheap clothing and ungroomed is an example of:
A. screening. B. signaling. C. statistical discrimination. D. building a reputation.