When the price of a product is increased 15 percent, the quantity demanded decreases 10 percent. We can therefore conclude that the demand for this product is:

Capital deepening is the only mechanism by which economies can grow

Indicate whether the statement is true or false

This year, real GDP per person in Country A is eight times real GDP per person in Country B

If Country B's real GDP per person grows at a rate of 5 percent, about how many years will it take for Country B to reach the level of real GDP per person in Country A in this year? A) 42 years B) 56 years C) 14 years D) 28 years E) It will never reach Country A's level of GDP per person.