The Rule of 70 can be used to calculate the
A) 70 percent level of the economic growth rate.
B) population growth rate per year.
C) economic growth rate per year.
D) economic growth rate per month.
E) number of years it would take for the level of any variable to double.
E
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In the basic closed-economy ISLM model, as the interest sensitivity of investment spending increases, fiscal policy has ________ effect on output and monetary policy has ________ effect on output
A) less; less B) more; more C) more; less D) less; more
Which of the following is LEAST likely to be an outcome of a cartel as compared to the situation before the cartel was formed?
A) Cartel members charge higher prices. B) Cartel members reduce production. C) Cartel members make fewer profits. D) Cartel members do not compete with each other in pricing decisions.