All else constant, if a nation's potential output doubles in 36 years, its average annual growth rate is

A. approximately 1%
B. approximately 2%
C. approximately 3%
D. approximately 4%

Ans: B. approximately 2%

Economics

You might also like to view...

When a customer's need for a product is not urgent, demand tends to be

a. elastic c. inelastic b. complementary d. unit elastic

Economics

Refer to the figure above. What is the initial equilibrium quantity of the good?

A) 20 units B) 30 units C) 35 units D) 50 units

Economics