The Rule of 70, as applied to real GDP growth, can be used to find the
A) real GDP growth rate necessary to double growth.
B) growth rate of real GDP.
C) number of years it takes for the level of real GDP to double.
D) population growth rate necessary to double the GDP growth rate.
E) number of years it takes for the growth rate of real GDP to double.
C
You might also like to view...
Which of the following is an explanation as to why fluctuations in real GDP have become less volatile in the United States since 1950?
A) The government has become less inclined to intervene to stabilize the economy. B) Unemployment insurance and other government transfer programs have become more prevalent. C) The government and the Federal Reserve have decreased regulation and scrutiny of the financial system. D) Goods manufacturing has become a larger fraction of GDP.
In a cartel, participating members can cheat by
A) letting more entrants join the cartel. B) leaving the industry. C) producing a lower production level than the cartel quota. D) charging a slightly lower price and raising production.
A monopolist has less to gain from cost-saving measures in the production process when
a. the monopoly is unregulated. b. regulators use average cost pricing to set the monopolist's price. c. the demand for the product of the monopolist is inelastic. d. changes in the regulated price occur only after considerable delay.
To finance a budget deficit the federal government borrows funds
Indicate whether the statement is true or false