The Rule of 70 is used to
A) estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour.
B) calculate the standard of living.
C) calculate the economy's growth rate.
D) estimate how long it will take the level of any variable to double.
E) estimate how much of an economy's growth rate is attributable to technological advance.
Correct Answer:
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Q14: If real GDP per person is growing
Q15: During 2014, the country of Economia had
Q16: In 2012, Northland had real GDP of
Q17: Growthland's real GDP per person was $112,000
Q18: Economic growth is
A)a sustained expansion of the
Q20: Real GDP per person in the country
Q21: If the money wage rate is $10.00
Q22: During the last 10 years, which of
Q23: Use the figure below to answer the
Q24: The aggregate production function is graphed as
A)a
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