If the real GDP in Afghanistan grew at an annual rate of 1.5 percent and the country's population grew at an annual rate of 2.5 percent, how long would it take for GDP per capita to double?
A. Approximately 72 years because real GDP is growing at a very low rate.
B. It will never double because population is increasing more rapidly than real GDP.
C. Approximately 36 years.
D. Approximately 14 years.
Answer: B
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A) disastrous weather that destroys about half of this year's orange crop B) a newly discovered increase in the nutritional value of oranges C) an increase in the price of bananas, a substitute in consumption for oranges D) an increase in income for all orange consumers
Macroeconomics typically focuses upon:
a. the performance of special labor markets. b. the nature of supply and demand caused by government. c. the last ten years of a firm's performance. d. the performance of the national economy and how the national economy interacts with other economies.
The interest paid on corporate bonds is not subject to federal taxes
Indicate whether the statement is true or false
A key idea in the study of economics is that increasing ______ leads to economic growth.
a. regulation b. productivity c. population d. dedication