Using the rule of 70, if the GDP per capita growth rate in the United States is 3.5 percent, real GDP per capita doubles every
A) 20 years.
B) 24.5 years.
C) 35 years.
D) 70 years.
Correct Answer:
Verified
Q2: Over time, a country's real GDP per
Q3: Recall the Application about the effect of
Q4: Suppose that real GDP starts at 100
Q5: Recall the Application about the effect of
Q6: If the growth rate for GDP was
Q7: Technological progress occurs when the economy gets
Q8: Suppose real GDP was 100 in year
Q9: Suppose that real GDP starts at 200
Q10: According to the text, _ is perhaps
Q11: An increase in a country's capital stock
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