Use the Rule of 72 to Determine How Long It

question 55

Multiple Choice

Use the rule of 72 to determine how long it takes for real GDP to double if real GDP grows at 3% per year.

• A) 12 years
• B) 24 years
• C) 36 years
• D) 72 years

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Definitions:

Committee Of Employees

A group of workers selected or elected to represent the interests of their colleagues, often in discussions with management or in union activities.

Labor Union

An organization of workers formed to protect and advance their rights and interests through collective bargaining with employers.

Critical Industrial Relations

An analytical approach to industrial relations, emphasizing the power dynamics and conflicts between employers and employees, and advocating for transformative changes.

Conflict Over Profits

Disagreements among stakeholders (such as employees, management, and investors) regarding the distribution of an organization's earnings.