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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A) term; variable life B) whole life; variable life C) whole life; term D) term; whole life

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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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