Number of years for economic growth to double.

Question

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Answer 1

Question

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

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Answer 2

Question

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

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Answer 3

Question

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

Answer 6

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

Answer 7

Chapter 7R, Problem 1MCQ

To determine

To find:

Number of years for economic growth to double.

Answer 8

Expert Solution & Answer

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

705 = 35 years.

Thus, option C is correct

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 7R - Prob. 1MCQ Ch. 7R - Prob. 2MCQ Ch. 7R - Prob. 3MCQ Ch. 7R - Prob. 4MCQ Ch. 7R - Prob. 5MCQ Ch. 7R - Prob. 6MCQ Ch. 7R - Prob. 7MCQ Ch. 7R - Prob. 8MCQ Ch. 7R - Prob. 9MCQ Ch. 7R - Prob. 10MCQ

Number of years for economic growth to double.

To find: Number of years for economic growth to double.

Explanation of Solution

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Chapter 7R Solutions

To find:

Number of years for economic growth to double.