If GDP Grows at a Rate of 3% Per Year,approximately

question 247

Multiple Choice

If GDP grows at a rate of 3% per year,approximately how long will it take for GDP to double in size?

• A)12 years
• B)21 years
• C)23 years
• D)35 years

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Definitions:

Labour Shortages

A situation in the labor market where the demand for workers surpasses the supply, leading to difficulties in finding suitable employees for open positions.

Corporate Strategies

Long-term plans made by a company to achieve competitive advantage and successfully operate in the market.

Human Resource Specialists

Professionals responsible for recruiting, screening, interviewing, and placing workers, as well as handling employee relations, payroll, benefits, and training.

Affirmative Action

Policies and procedures designed to promote the employment, education, or advancement of minorities and women, to correct past disadvantages.