Suppose a Country's Potential Level of Real GDP Grows at a Rate

question 3

Multiple Choice

Suppose a country's potential level of real GDP grows at a rate of 6% per year. Use the rule of 72 to calculate how long it takes for the country's potential output to double.

• A) 6 years
• B) 12 years
• C) 24 years
• D) 30 years

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