If Output Per Capita Grows by a Constant 5% Per

question 36

Multiple Choice

If output per capita grows by a constant 5% per year,then the standard of living would grow by about ________ over 3 years.

• A)12%
• B)16%
• C)17%
• D)18%
• E) 20%

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Definitions:

Suffered

Experienced or been subjected to something bad or unpleasant.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Underestimate

To judge something to be smaller or less important than it actually is.

Politicians

Individuals who are actively involved in politics, especially as an elected official in a governmental role.