According to the rule of 70, a nation that has an economic growth rate of 5 percent will double its output in ______ years.
a. 14
b. 35
c. 3.5
d. 7
a. 14
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Which of the following expenditure components of GDP can be negative or positive?
A) Consumption expenditure B) Investment C) Government expenditure on goods and services D) Net exports of goods and services E) None of the above because expenditure can never be negative.
Would the maximum loan that a bank can make be different when receiving a discount loan from the Federal Reserve of $1 million versus receiving a checking account deposit of $1 million? Explain why or why not
What will be an ideal response?
What has been the approach of the European Central Bank to monetary targeting?
What will be an ideal response?
Suppose that in a perfectly competitive market, the market price is $10. A firm in that market has marginal cost of $10, average total cost of $12, and it is producing 100 units. The firm is
A) earning $1,000 in total economic profits and is maximizing economic profits. B) earning $200 in total economic profits and is maximizing economic profits. C) earning zero total economic profits and is not maximizing economic profits. D) incurring $200 in total economic losses and is minimizing economic losses.