Using the Rule of 72,determine How Long It Would Take

question 129

Multiple Choice

Using the rule of 72,determine how long it would take for real GDP to double if it grew at a constant growth rate of 4 percent.

• A)4 years.
• B)18 years.
• C)72 years.
• D)144 years.

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Definitions:

Market Specialization

A strategy where a company focuses its marketing efforts on a specific market niche, tailoring its products, services, and marketing activities to meet the needs of that particular market segment.

Product Specialization

Product specialization is a strategy where a business focuses on producing and selling a limited range of products to target a specific market segment or demographic effectively.

Marketing Plan

A comprehensive document that outlines a company's overall marketing effort, including strategies, objectives, and actions to achieve marketing goals.

Valid Assumptions

Assumptions that are logically justified and supported by evidence or sound reasoning.