Using the rule of 72, determine how long it would take for real GDP to double if it grew at a constant growth rate of 4 percent.
A. 72 years.
B. 144 years.
C. 4 years.
D. 18 years.
Answer: D
Economics
You might also like to view...
When workers purchase more leisure and work less at higher wages, the supply curve
a. is vertical. b. is horizontal. c. is positively sloped. d. is backward bending.
Economics
Falling barriers to international trade destroy manufacturing jobs in wealthy advanced economies. Discuss this statement. Do you agree? Why or why not?
What will be an ideal response?
Economics
A game in which any gains within the group are exactly offset by equal losses by the end of the game is a
A. positive-sum game. B. zero-sum game. C. strategy. D. negative-sum game.
Economics
A product's price elasticity of demand depends critically on the availability of substitutes
Indicate whether the statement is true or false
Economics