If GDP is currently $13 trillion and is growing at a rate of 2.3% per year, how long will it take GDP to reach $26 trillion?
A) about 15 years
B) about 17 years
C) about 25 years
D) about 30 years
Answer: D
Economics
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In macroeconomics, a period during which some resource prices, especially those for labor are fixed by explicit or implicit agreement is called:
a. expansionary gap b. contractionary gap c. short-run d. long-run
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