Using the rule of 70, if the GDP per capita growth rate in the United States is 3.5 percent, real GDP per capita doubles every
A) 20 years. B) 24.5 years. C) 35 years. D) 70 years.
A
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If the government sought to end a recession, which of the following would be an appropriate policy?
a. Increase taxes b. Decrease government purchases. c. Decrease taxes and increase government purchases. d. None of the above
Some bank regulation limits the types of assets that banks may own. The intent of this regulation is to
a. protect banks from competition. b. provide banks with a minimum level of profits. c. limit the level of bank profits. d. maintain bank safety. e. All of the above are correct.
The circular flow diagram divides the economy into:
a. Household sector and business sector. b. Real sector and nominal sector. c. Domestic sector and foreign sector. d. Agricultural sector and non-agricultural sector. e. None of the above is correct.
The figure above shows the supply and demand curves in the market for rental housing. A rent ceiling is set at $400 per month. In the figure above, with the rent ceiling the quantity of housing supplied is ________ units, the quantity demanded is ________ units, and the quantity rented is ________ units
A. 3,000; 6,000; 6,000 B. 3,000; 6,000; 4,000 C. 4,000; 4,000; 4,000 D. 3,000; 6,000; 3,000 E. 3,000; 3,000; 3,000