If it took 20 years for real GDP to double, what was the growth rate of real GDP?

A) 4.5 percent
B) 3.0 percent
C) 3.5 percent
D) 4 percent
E) 5 percent

C

Economics

You might also like to view...

Which of the following was one of the main rules in the 1990 "Budget Enforcement Act"?

A) flat tax rate B) PAYGO rule C) indexation of income tax brackets D) consumption tax E) none of the above

Economics

When the overall price level in an economy increases, the interest rate in that economy tends to increase as well. This increase in the interest rate makes investing in domestic assets look more attractive than investing in assets in other countries, so the demand for foreign assets decreases. This is called the _____

a. interest rate effect b. exchange rate effect c. wealth effect d. accelerator effect

Economics