In general, the number of years it will take for income to double at the current real growth rate is approximately:
A. 70 divided by the growth rate.
B. 50 divided by the growth rate.
C. 7 times the growth rate.
D. 5 times the growth rate.
A. 70 divided by the growth rate.
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The Congressional Budget Office estimates that the ratio of publicly held debt to GDP will ________ by 2050 if no entitlement reforms are enacted
A) remain close to the current high level of 73% B) fall to only about 55% C) more than triple to about 250% D) rise to about 130%
Tax laws affect
A) economic efficiency but not equity. B) consumption and production, not efficiency and equity. C) both efficiency and equity. D) equity but not economic efficiency.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Which of the following is included in M1?
A. Savings accounts B. Money market deposit accounts C. Money market mutual funds D. Travelers’ checks E. None of the above is included.