Solved

According to the Rule of 70, If GDP Per Person

Question 52

Multiple Choice

According to the rule of 70, if GDP per person is growing at a rate of roughly 3.4%, approximately how many years will it take for average income to double?


A) 49 years
B) 52 years
C) 21 years
D) 13 years

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q47: This question has two parts.<br>(a) Draw and

Q48: In the market for inputs:<br>A)households sell goods

Q49: Macroeconomists:<br>A)analyze aggregate data on real GDP, the

Q50: You own and run a bakery. Last

Q51: Refer to the diagram of the circular

Q53: (Table: Pizza Economy III) Use Table:

Q54: The circular flow of income shows that

Q55: During 2000 and 2001, nominal GDP in

Q56: Consider the data shown in the

Q57: Assume that in the base year, 2019,