The Rule of 72 Implies That a Country Will Double

question 57

Multiple Choice

The rule of 72 implies that a country will double its income in about 4 years if its growth rate is:

• A)8 percent.
• B)12 percent.
• C)18 percent.
• D)25 percent.

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Definitions:

State Regulatory Board

A government agency at the state level responsible for overseeing the adherence to laws and regulations within a specific sector.

Ethical Principles

Fundamental concepts that guide moral behavior and decision-making, such as honesty, fairness, responsibility, and respect for others.

Economic Efficiency

A state where resources are allocated in a way that maximizes the production of goods and services at the lowest cost, optimizing welfare or profit.

Consumer Protection

Laws and regulations intended to safeguard buyers of goods and services from unfair, deceptive, or harmful practices by sellers.