A nation's average annual real GDP growth rate is 3%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 40 years.
B. 175 years.
C. 17.5 years.
D. 24 years.
Answer: D
Economics
You might also like to view...
Goods and services are produced by using four factors of production:
A) land, labor, capital, and entrepreneurshi
Economics
List and define the three types of unemployment
What will be an ideal response?
Economics
If marginal product is equal to average product, then total product is at a maximum
Indicate whether the statement is true or false
Economics
The price paid to a resource in totally fixed supply is called
a. economic rent b. economic profit c. wages d. interest e. opportunity cost
Economics