Answered: If real income grows at approximately…

If real income grows at approximately 6% per year, the number of years it will take for real income to double is approximately (a) 5 (b) 18 (c) 72 (d) 36 (e) 12

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

refer to the photo

If real income grows at approximately 6% per year, the number of years it will take for real income to
double is approximately
(a) 5
(b) 18
(c) 72
(d) 36
(e) 12

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