Suppose That GDP of a Small Tropical Island Grows at 4

question 103

Multiple Choice

Suppose that GDP of a small tropical island grows at 4% per year. This year, output is equal to 100,000 units of output. Using the rule of 72, how long will it take before GDP is equal to 400,000 units of output?

• A) 18 years
• B) 36 years
• C) 45 years
• D) 72 years

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Definitions:

Effective Compensation

A compensation strategy that successfully attracts, motivates, and retains employees, aligning with the organization's goals, and market standards.

Reward And Compensation Strategy

A deliberate approach a company takes to outline how employees are compensated and rewarded for their performance, aiming to align employee interests with organizational goals.

Optimal Compensation System

A well-designed compensation framework that aims to align the interests of the employees with those of the organization, while motivating staff and controlling costs.

Organization's Value

The core principles, beliefs, and philosophies that guide a company's operations and define its brand identity.