If the population growth rate is 2 percent, real GDP per person will double in 7 years if real GDP grows by ______ percent per year
A. 7
B. 10
C. 12
D. 14
C For real GDP per person to double in 7 years, the growth rate of real GDP per person must be 10 percent. If the population growth rate is 2 percent, then real GDP must grow at 12 per-cent.
Economics
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Economics
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A) aggregates within the economy. B) specific sectors within the economy. C) the retail industry only. D) decisions made by firms.
Economics