If an economy grows at 6 percent per year, how many years would it take for real GDP to double?
What will be an ideal response?
Using the rule of 70, it would take 70/6 = 11.67 years for real GDP to double.
Economics
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A labor union is a group of
a. employees who join together to improve their working conditions b. firms that join together to hire workers c. firms that work together to negotiate better prices in the market d. farmers who work together to receive better prices for their agricultural products e. workers and firm owners who join together to improve working conditions
Economics
Economic profits at the short-run break-even point are
A) positive. B) negative. C) equal to zero. D) indeterminate since they also depend on the size of the fixed costs.
Economics