The Rule of 72 implies that a country will double its income in about 18 years if its growth rate is:
A) 4 percent.
B) 6 percent.
C) 8 percent.
D) 12 percent.
Correct Answer:
Verified
Q21: Specialization allows individuals to:
A)broaden their skill base.
B)become
Q23: Compounding means that changes in living standards
Q26: Markets help to promote growth by:
A)increasing specialization
Q28: The Rule of 72 implies that a
Q32: The effect of specialization and the division
Q32: Economic growth causes:
A)the production possibility curve to
Q35: According to new growth theory, the primary
Q36: The Rule of 72 implies that a
Q37: The Rule of 72 implies that a
Q40: Suppose Thailand grows at a rate of
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