Suppose per capita real GDP grows by 3.5% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double (i.e., increase by 100%)?
A) 10 years B) 35 years C) 20 years D) 3.5 years
C
You might also like to view...
Changes in which of the following shift the short-run Phillips curve?
i. changes in the natural unemployment rate ii. changes in the expected inflation rate iii. changes in the inflation rate A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
A ten-year $1,000,000-face-value zero-coupon Treasury bond has a market price of __________ when the interest rate is 6.34%
A) $366,000 B) $936,600 C) $784,902 D) $540,796
As canals, steamboats, and railroads were built,
a. home production declined. b. manufacturing by artisans increased. c. prices of basic goods like clothing increased. d. product quality declined. e. All of the above.
A bank's actual reserves can be calculated by: a. multiplying its demand deposits by the required reserve ratio. b. multiplying its excess reserves by the required reserve ratio. c. subtracting its required reserves from its excess reserves
d. adding its required reserves and its excess reserves.