If the Current Growth Rate of Real GDP Per Person

question 42

Multiple Choice

If the current growth rate of real GDP per person is 7 percent a year, how long will it take for real GDP per person to double?

• A)2 years
• B)1 year
• C)49 years
• D)10 years
• E)7 years

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Definitions:

Class Interval

A range of values within which data points in a dataset are grouped for the purposes of frequency distribution.

Frequency Distribution

A summary of how often each value in a set of data occurs.

Relative Frequency Distributions

Statistical tools used to describe the number of times a particular value occurs in relation to the total number of values.

Skewed Right

A distribution of data where the right tail (larger values) is longer than the left tail, indicating that the majority of data points are located on the left side.