Exchange rate crises are only associated with fixed exchange rate systems

Suppose per capita real GDP grows by 7% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double?

A) 7 years B) 10 years C) 4.9 years D) none of the above

Suppose Max values a concert ticket at $45 . Charles values the same concert ticket at $40 . The pre-tax price of a concert ticket is $30 . The government imposes a tax of $5 on each concert ticket, and the price rises to $35 . The deadweight loss from the tax is

a. $15. b. $10. c. $5. d. $0.