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    Essential Foundations of Economics Study Set 1
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    Exam 17: Potential Gdp and Economic Growth
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    Suppose Real GDP Grows at 7 Percent Per Year and the Population
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Suppose Real GDP Grows at 7 Percent Per Year and the Population

Question 204

Question 204

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Suppose real GDP grows at 7 percent per year and the population grows at 2 percent per year.How many years will it take for real GDP and real GDP per person to double?

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Use the Rule of 70 for both answers.The ...

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