Table 172 Refer to Table 17

question 75

Multiple Choice

Table 17.2 $\begin{array}{|c|c|}\hline \text { Year } & \text { Real GDP } \\\hline 1 & \$ 400 \text { million } \\\hline 2 & \$ 425 \text { million } \\\hline\end{array}$
Refer to Table 17.2.Using the rule of 72,this economy will double in

• A)2.88 years.
• B)450 years.
• C)11.52 years.
• D)6.25 years.

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Definitions:

Housing Prices

The monetary values assigned to homes and apartments in the real estate market, influenced by factors such as location, demand, and economic conditions.

Low-interest Rate Policy

A monetary policy approach where central banks set lower interest rates to stimulate economic growth by encouraging borrowing and investment.

Fixed-rate

Refers to an interest rate that remains constant over the duration of the loan, bond, mortgage, or other financial instrument.

Sub-prime Mortgages

Loans offered to individuals with poorer credit histories or a higher risk of defaulting, usually at higher interest rates.