According to the rule of 70, we can estimate how long it will take a country to double its real GDP per capita by:
A) dividing the average growth rate by 70.
B) dividing 70 by the average growth rate.
C) dividing the current real GDP per capita by 70.
D) multiplying the average growth rate by 70 percent.
Correct Answer:
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Q1: According to the rule of 70, if
Q3: According to the rule of 70, if
Q4: Historically, real income per person:
A) barely changed
Q5: If a country grows at an average
Q6: Over the last 100 years or so,
Q7: In a given year, suppose the real
Q8: The real GDP per capita growth rate
Q9: According to the rule of 70, a
Q10: In a given year, suppose the nominal
Q11: If a country grows at an average
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