If population increases at an average rate of 1% per year and output increases at an average rate of 5% per year, then per capita real GDP will double in
A) 14.4 years.
B) 18 years.
C) 24 years.
D) 36 years.
Correct Answer:
Verified
Q27: Suppose a country's potential level of real
Q28: Which of the following equations is correct?
A)
Q29: If the rate of growth of output
Q30: All else constant, if real GDP doubles
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Q33: All else constant, if a nation's potential
Q34: The rate of economic growth per capita
Q35: Holding all else constant, a country's standard
Q36: The rate of economic growth per capita
Q37: Use the rule of 72 to determine
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