2A nation's average annual real GDP growth rate is 7.6 percent. Based on the rule of 72, the approximate number of years that it would take for this nation's real GDP to double is23:43Multiple Choice10.6 years.O9.5 years.7.6 years.O72.0 years.AcGrawHill< Prev12 of 40a$574#302%alo5QWER4NSDLLNext >MacBook Pro+く*(7)89027&<6TYU-0PGHJKLXCVBNSV

The rule of 72 is a simple mathematical approximation used to estimate the time it takes for an…

Answered: 2 A nation's average annual real GDP…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 5SCQ: What do the growth accounting studies conclude are the determinants of growth? Which is more...

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UCtlön to Mathematica i İktisat(İngilizce)(1.Ö) 2020-2021 Bahar If population of a city groWs at 2.3 percent, how long will it take to double? O a. 30.1368 Ob. 28.8811 Oc. 26.6595 O d. 27.7250
The GDP at Q101 is 250600 and the GDP at Q102 is 260700. What is the total GDP growth between Q101 and Q102? Select one: O a. 4% O b.2.9% O C8.27% O d. None O e. 6.15%
The image below shows the condition of diminishing Marginal Rate of Technical Substitution (MRTS). In this condition... a. it becomes easier for the company to substitute one factor of production. b. substituting one factor of production will require fewer units of other factors of production. c. the marginal productivity of a specific factor of production becomes smaller. d. it becomes more difficult for the company to substitute one factor of production.
12. The rule of 72 says that if something is growing by X% per period then it will double approximately every 72/X periods. The periods could be days, months, years, etc. In late February 2020 about 7,000 people outside of China had been infected with the COVID-19 virus and the number was increasing by 9% per day. If the growth rate stayed the same then how many times would be the number of infections double in the next 64 days? a. 8 times so about 56,000 people would be infected b. 1.125 times so about 15,000 people would be infected c. 1.125 times so about 8,000 people would be infected d. 8 times so about 1.8 million people would be infected
3. Which statement about the Rule of 70 is NOT true? A. it is a valuable tool for understanding the power of compounding growth rates over time B. it is fairly accurate for small growth rates C. it becomes more accurate over time D. it is an easy way to approximate the number of years it takes for an amount to double in value
Consider the average annual growth rate 5.93% of 2000-2005, and forecast the population in Abu Dhabi in 2011. Use the continuous compounding equation of growth. Year Abu Dhabi Nationals Non-nationals Total 1980 90,792 361,056 1985 135,982 430,054 1990 173,992 556,389 1995 222,627 719,836 2000 248690 846,267 2005 348048 1,049,207 UAE 451,848 1,016,789 566,036 1,350,433 730,381 1,811,457 942,463 2,350,192 3,050,127 4,481,976 6
e ncia.wwnorton.com b. Per capita real GDP doubled in South Korea again in only seven years, reaching $1600.00 by 1988.00. What was the average annual economic growth rate between 1981 and 1988.00? (NOTE: Round this to two places past the decimal point.) % 4th attempt 3rd attempt Okay Elizabeth 4 8 Q W E Y U P @ 23 & return A F G H J K % ! V N M .?123 .?123
If X grows at a rate of 9% a year, and Y grows at a rate of 14 percent per year, what is the growth rate of X/Y? a. 23% b. -5% c. 5% d. (9/14) % A nation’s population is growing 5% per year, and its total GDP is growing 1% per year. What is the annual rate of growth of GDP per capita? Feel free to round to the nearest percentage point:.
QUESTION 2 If Z = (XY)2, and we know that the annual growth rate of Z is 3%, and the annual growth rate of X is 2%, the annual growth rate of Y is а. - 1% b. - 0.5% C. 0.5% d. 1.0%
If GDP is expected to increase at a steadyrate of 3% per year, how many yearswould it take for living standards todouble?a. 10b. 20c. 24d. 30
Why dues productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?
At an annual growth rate of 14 percent, real GDP will double in about 112 years 10 years 13% years O 5 years

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