The Rule of 72 Implies That a Country with a Growth

question 16

Multiple Choice

The Rule of 72 implies that a country with a growth rate of 2 percent:

• A)will never double its income.
• B)will double its income in about 7 years.
• C)will double its income in about 36 years.
• D)will double its income in about 50 years.

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Definitions:

Regression Toward

Refers to the statistical phenomenon where extreme values in data tend to return or "regress" towards the average over time.

Outstanding Performances

Exceptionally good or impressive acts or displays, often exceeding the norms or expectations.

Decline

A gradual decrease in quality, quantity, or importance.

Statistical Significance

A statistical statement of how likely it is that an obtained result occurred by chance.