What is the potential impact of rapid economic growth on: a) A nation's tax base? b) GDP/Capita? Brief explanation for each. 2. If the annual rate of GDP growth is 3%, use the rule of 72 to calculate the number of years it would take for the GDP to double. Show all calculations. (Ctr)-

What is the potential impact of rapid economic growth on: a) A nation's tax base? b) GDP/Capita? Brief explanation for each. 2. If the annual rate of GDP growth is 3%, use the rule of 72 to calculate the number of years it would take for the GDP to double. Show all calculations. (Ctr)-

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

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Question

What is the potential impact of rapid economic growth on:
a) A nation's tax base?
b) GDP/Capita?
Brief explanation for each.
2. If the annual rate of GDP growth is 3%, use the rule of 72 to calculate the number of
years it would take for the GDP to double. Show all calculations.
I
(Ctrl)-

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