According to the Rule of 72 (Table 17.1) and recent growth rates (World View, p. 373) how
Question:
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?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
a 424 years b 68 years c 655 years Feedback a Doubling times can be approximated ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ 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), 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?
-
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 city levies property taxes of $2 billion in June 2015for its Fiscal year beginning July 1, 2015. The taxes are due by January 31, 2016. The following (in millions) indicates actual and anticipated...
-
The Ace Jewelry Store sold a necklace for $144. If the percent profit (based on cost) equals the cost of the necklace to the store, how much did the store pay for it? Use where P is profit and C is...
-
In the given figure, spring constant is K, viscous friction coefficient is B, mass is M and the system output motion is \(y(t)\) corresponding to input force \(\mathrm{F}(t)\). Which of the following...
-
Explain the value of direct marketing for consumers and sellers.
-
The partnership of Matteson, Richton, and OToole has existed for a number of years. At the present time the partners have the following capital balances and profit and loss sharing percentages:...
-
Zoot Company uses a predetermined overhead rate based on machine hours (mh) to apply manufacturing overhead to jobs. The company manufactures saxophones to customer specifications. The following data...
-
Apollo Shoes is an audit case designed to introduce you to the entire audit process, from planning the engagement to drafting the final report. You are asked to assume the role of a veteran of...
-
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?
-
Consider an organization that exists to help the poor. The members of the organization are discussing alternative methods of aiding the poor, when a proponent of one particular method asserts, "If...
-
Evaluate the following integrals: (i) (ii) dx (x+1)(x+2) dx x(x+1)
-
Evaluate the following integrals:
-
Evaluate the following integrals:
-
Example: Evaluate each of the following: In(1+m) (a) e cos(1-e)dx 10- (b) [Int] -dt sec(3P)tan (3P) (c) 12 2+ sec(3P) dP (d) cos(x)cos(sin(x))dx (e) dw W 50 20
-
If the acceleration due to gravity on Earth suddenly increased, would this affect the atmospheric pressure? Would it affect the pressure at the bottom of a swimming pool? Explain.
-
A 2500-lbm car moving at 15 mi/h is accelerated at a constant rate of 15 ft/s 2 up to a speed of 50 mi/h. Calculate force and total time required?
-
Hailey, Inc., is considering the purchase of a $655,000 computer with an economic life of five years. The computer will be fully depreciated over five years using the straight line method. The market...
-
A firm is considering an investment in a new machine with a price of $9.66 million to replace its existing machine. The current machine has a book value of $2.52 million, and a market value of $4.37...
-
Mustang Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $1.91 million. The facility is to be fully depreciated on a straight-line basis over seven years. It...
-
Assignment Title: The Role of Bookkeeping in Business Management and Financial Reporting Objective: Understand the importance of proper bookkeeping procedures in the management of...
-
17) The adjustment that is made to allocate the cost of a building over its expected life is called:A) depreciation expense.B) residual value.C) accumulated depreciation.D) None of the above answers...
-
9) Prepaid Rent is considered to be a(n):A) liability.B) asset.C) contra-asset.D) expense.10) As Prepaid Rent is used, it becomes a(n):A) liability.B) expense. C) contra-asset.D) contra-revenue.11)...
Study smarter with the SolutionInn App