Suppose Botswana doubles its income in 6 years while South Africa doubles its income in 9 years.According to the Rule of 72, the growth rate in Botswana is:
A) 3 percentage points higher than the growth rate in South Africa.
B) 4 percentage points higher than the growth rate in South Africa.
C) 8 percentage points higher than the growth rate in South Africa.
D) 12 percentage points higher than the growth rate in South Africa.
Correct Answer:
Verified
Q21: Specialization allows individuals to:
A)broaden their skill base.
B)become
Q22: Small differences in growth rates can create
Q22: The Rule of 72 implies that a
Q23: Compounding means that changes in living standards
Q25: The Rule of 72 implies that a
Q26: Markets help to promote growth by:
A)increasing specialization
Q28: Market economies have been successful in leading
Q28: The Rule of 72 implies that a
Q32: The effect of specialization and the division
Q38: Economic growth:
A)does not affect living standards at
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