The formula used to determine how long it will take a country to double its real GDP is called
A) the nominal-to-real formula.
B) the double-or-nothing formula.
C) the expenditure multiplier.
D) the rule of 70.
D
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Printing of paper money by the Confederate government led to
a. an immediate hyperinflation that lasted for the entire period of the War. b. a short-term hyperinflation that lasted for only the first year of the War.c hyperinflation in the final months of the War.d sporadic episodes of hyperinflation that emerged throughout the War.
In an economy where net exports are zero, if saving rises in some period, then in that period
a. consumption and investment fall. b. consumption falls and investment rises. c. consumption rises and investment falls. d. consumption rises and investment falls.
The profit maximizing rule MR = MC applies to:
A. perfectly competitive firms only. B. monopolists only. C. imperfectly competitive firms only. D. all firms.
Why are there actually relatively few markets in which there is perfect competition?
(A) Buyers will not pay more for perfect competition. (B) High prices keep companies in the market longer than necessary. (C) Barriers keep companies from entering the market freely. (D) Lack of demand keeps buyers from the market.