According to the Rule of 72 (Table 17.1), how many years will it take for GDP to
Question:
According to the Rule of 72 (Table 17.1), how many years will it take for GDP to double if the economy is growing at
(a) 2 percent a year?
(b) 3 percent a year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
a 36 years b 24 years Feedback a According to Table 171 ...View the full answer
Answered By
Allan Simiyu
I am an adroit Writer. I am a dedicated writer having worked as a writer for 3 years now. With this, I am sure to ace in the field by helping students break down abstract concepts into simpler ideas.
5.00+
8+ Reviews
54+ Question Solved
Related Book For
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
Question Posted:
Students also viewed these Business questions
-
According to the Rule of 72 (Table 15.1), how many years will it take for GDP to double if GDP growth is 1. 4 percent? 2. 2 percent? 3. 1 percent?
-
According to the Rule of 72 (Table 17.1) and recent growth rates (World View, p. 373) how long will it be before GDP doubles in (a) The United States? (b) China? (c) Greece?
-
Multiple Choice Questions: 1. According to the Rule of 70, if a nation grows at a rate of 5 percent per year, it will take roughly _____________ for national income to double. a. 10 years. b. 7...
-
A block of ice with mass 2.00 kg slides 0.750 m down an inclined plane that slopes downward at an angle of 36.9 below the horizontal. If the block of ice starts from rest, what is its final speed?...
-
The global spending on travel and tourism (in billions of dollars) can be described by the equation t = 0.787x2 - 11.0x + 290 where x equals the number of years past 1990. Find the year after 1990 in...
-
Choose the specific factor (for example, culture, family, occupation, attitudes) that most accounts for the blue/pink toy aisle phenomenon. Explain the challenges faced by Goldie-Blox in attempting...
-
The management of Ercall Limited pays particular attention to the ratios and percentages which they calculate from their annual accounts. For the year ended 31 December 2009, they have calculated the...
-
The following accounts, in alphabetical order, were selected from recent financial statements of Krispy Kreme Doughnuts, Inc. Accounts payable .........Interest income Accounts receivable..........
-
se the change of base formula to evaluate the following expression.
-
You work in the human resources department of your company helping new employees fill out the necessary paperwork to get their first paycheck. There are a number of decisions that employees must make...
-
Why do some nations grow and prosper while others stagnate?
-
How much more output will the average American (U.S. population = 320 million) have a year from now if the $18 trillion GDP grows by (a) 0 percent? (b) 1 percent? (c) 3 percent?
-
Misty Briggs, owner of Briggs Machine Shop, maintains two checking accountsone for personal affairs and one for the business. What basic accounting concept does this arrangement illustrate?
-
Write Individual presentation on Australian Workplace Culture & Diversity (5 minutes) - powerpoint slides Full Name_M2 EAW1_Aus Workplace Culture & Diversity PP
-
A local grocery store faces demand for one of its items at a constant rate of 20,000 boxes per year. It costs them $5 to process an order and $0.50 per box per year to carry the item in stock. The...
-
What will excessive oxygen in the boiler water cause to take place?
-
Earthquakes can be analyzed with the formula: M - M = log A where M is the magnitude of the earthquake (unitless), and A is the seismograph amplitude of the earthquake being measured (m). The...
-
What kind of culture are the people from the restaurant supply company exhibiting? Give evidence from the case to support your answer.
-
A hydrogen atom is in an l = 2 state. What are the possible angles its orbital angular momentum vector can make with a given axis?
-
Integration is a vital concept when applied in one?s life. Integrating your life means making ideal choices. Perfect choices on the other go in line with quality decisions. Quality decisions lead to...
-
Sparkling Water, Inc., expects to sell 6.5 million bottles of drinking water each year in perpetuity. This year, each bottle will sell for $1.03 in real terms and will cost $.77 in real terms. Sales...
-
SGS Golf Academy is evaluating different golf practice equipment. The Dimple-Max equipment costs $96,500, has a seven-year life, and costs $11,600 per year to operate. The relevant discount rate is...
-
Zoysia University must purchase mowers for its landscape department. The university can buy five EVF mowers that cost $8,700 each and have annual, year-end maintenance costs of $2,025 per mower. The...
-
Curtis has an outside basis of $35,000 prior to receiving a property distribution from ABC Partners, GP, consisting of the following assets: Inside Asset Basis FMV Cash 10,000 10,000 Inventory 5,000...
-
A building has a large wall that needs to be replaced. The wall represents a portion of the depreciable asset. The depreciable amount left for just the wall can be carved out of the entire...
-
Under ASPE, in order for a related-party transaction to be measured at the exchange amount, how many of the following conditions need to be satisfied? 1. monetary 2. in the ordinary course of...
Study smarter with the SolutionInn App