Suppose a Country Is Producing $20 Million of Real GDP

question 50

Multiple Choice

Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to take for real GDP to grow to $80 million?

• A)14
• B)7
• C)4
• D)30
• E)3.5

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Definitions:

Organic Product

A molecule that has been produced as a result of an organic reaction, prominently featuring carbon atoms in its structure.

Reaction

A process in which substances, the reactants, are converted into different substances, the products, involving rearrangement of atomic or molecular structures.

Gilman Reagent

Organometallic compounds of the form R2CuLi, utilized in organic chemistry for carbon-carbon bond formation reactions.

3-Methylpentane

An organic compound that is a branched alkane with six carbon atoms, where the methyl group is attached to the third carbon.