If Output Per Capita Doubles in 24 Years and the Population

question 81

Multiple Choice

If output per capita doubles in 24 years and the population doubles in 18 years, what is the growth rate of output?

• A) 4% per year
• B) 5% per year
• C) 6% per year
• D) 7% per year

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Definitions:

Inventory Carrying Costs

The total costs associated with holding inventory, including storage, insurance, taxes, opportunity costs, and depreciation.

Real Estate Agencies

Businesses that facilitate the buying, selling, leasing, or renting of real estate properties.

Hospitals

Health care institutions providing patient treatment with specialized medical and nursing staff and medical equipment.

Inventory Carrying Cost

The complete expense linked to maintaining stock, encompassing storage, insurance, the decrease in value over time, and the cost of missed opportunities.