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How do you solve 23? MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 21) Suppose that real GDP

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How do you solve 23?

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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 21) Suppose that real GDP starts at 100 and grows at a rate of 6% a year for two years. In the third year real GDP would be: 21) A) 136. B) 106. C) 112.36. D) cannot be determined from the information given 22) Using the rule of 70, if the GDP per capita growth rate in the United States is 2.3%, standards of living double every: 22) A) 29 years. B) 70 years. C) 3.04 years D) 30.43 years. 23) Suppose the annual growth rate of GDP in Japan is 4%. In 35 years, GDP in Japan will double: 23) A) 2 times. B) 10 times. C) 17.5 times. D) 3.5 times. W

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