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Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371 Exercise 3
Suppose that in the economy of Tilden, real GDP per capita grows at 10%, doubling every 7 years. In 35 years, the typical resident of Tilden will be_____ times as rich as the typical resident today.
A) 2
B) 5
C) 10
D) 32
A) 2
B) 5
C) 10
D) 32
Explanation
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• Real GDP growth rate is 10%.
• Require...
Economic Analysis of Social Issues 1st Edition by Alan Grant
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