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

question 11

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.

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Definitions:

Cognitive Development

The process of growth and change in intellectual capabilities such as thinking, reasoning, and understanding over the course of a human life.

Experiment

A carefully regulated procedure in which the researcher manipulates one or more variables that are believed to influence some other variable.

Nativist Approaches

Theories suggesting that much of human knowledge and capacity is innate and genetically programmed, emphasizing the role of biology in development.

Cognitive Development

The process by which individuals acquire and develop thinking skills, from perceiving and learning to speaking and reasoning, throughout the lifespan.