According to the Rule of 72, a 12% Annual Increase

question 126

True/False

According to the rule of 72, a 12% annual increase in real GDP would lead to a doubling of real GDP in 8 years.

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Definitions:

Positive Reinforcement

A process in behavioral psychology whereby a behavior is strengthened by the consequence of experiencing a positive condition.

Stimuli

External or internal cues that evoke a response from an organism or system.

Probability

A measure of the likelihood that a specific event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Avoidance Conditioning

A learning process in which an individual learns to prevent or avoid an unpleasant stimulus by performing a particular behavior.