The Real GDP of country X doubled in 20 years. It follows that the annual growth rate in country X during this time period was
A) 4.0 percent.
B) 5.0 percent.
C) 2.8 percent.
D) 3.5 percent.
D
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Moving from one point to another on a production possibilities frontier implies
A) increasing the production of both goods. B) changing the amount of factors of production that are employed. C) decreasing the production of both goods. D) increasing the production of one good and decreasing the production of another. E) holding the production levels of both goods constant.
In order to not face tradeoffs, scarcity would have to be eliminated
a. True b. False Indicate whether the statement is true or false
Why doesn't the age-earning cycle continuously increase until retirement age?
What will be an ideal response?
Which of the following is likely protected by copyright?
A) Your recipe for chocolate cake B) Your autobiography C) The color scheme for your house D) The names of your children