According to the rule of 70, a country will double its real GDP per capita in 20 years if it grows at an average of _______ per year.
A) 2.0 percent
B) 3.5 percent
C) 5.0 percent
D) 7.0 percent
Correct Answer:
Verified
Q10: In a given year, suppose the nominal
Q11: If a country grows at an average
Q12: We can roughly estimate how long it
Q13: In general, the number of years it
Q14: We can calculate how long it will
Q16: Rapid economic growth:
A) is a modern phenomenon,
Q17: In a given year, suppose the nominal
Q18: Real income per person stayed relatively steady:
A)
Q19: Economic growth means:
A) more goods and services
Q20: Total changes in GDP over time are:
A)
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