If the economy's real GDP doubles in 8 years, we can
A. conclude that its average annual rate of growth is 9%.
B. conclude that its average annual rate of growth is 12%.
C. conclude that its average annual rate of growth is 8%.
D. not say anything about the average annual rate of growth.
Answer: A
You might also like to view...
The ability of the DVCs to use the technologies of the IACs is somewhat limited because:
A. the IACs have patents on most of their technologies. B. the IACs and the DVCs have much different resource endowments. C. the technologies of the IACs rely heavily on unskilled labor. D. IAC technologies are labor-intensive, while DVC technologies are capital-intensive.
What is enacted when discontented sellers, feeling that prices are too low, appeal to legislators to keep prices from falling?
A. Rent controls B. Price ceilings C. Price floors D. Subsidies