The rule of 70 states that
A) the number of years it takes an economy to double in size is the growth rate times 70.
B) the number of years it takes an economy to double in size is the growth rate divided by 70.
C) it takes an economy 70 years to double its real GDP.
D) the number of years it takes an economy to double in size is 70 divided by the growth rate.
D
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Based on this new information, what is Willy's "expected loss" due to an accident, provided that he installs the equipment?
Assume all of the information from Question #10 above, with one exception: Willy has the option of installing additional safety equipment that will reduce the probability of an accident to 10%. A. $20,000 B. $50,000 C. $100,000 D. $125,000
Households in the United States more completely smooth out expenditures on
A) durable goods and nondurable goods than on services. B) durable goods than on nondurable goods and services. C) nondurable goods and services than on durable goods. D) services and durable goods; nondurable goods.