A Convenient Rule of Thumb Called the "Rule of 72

question 76

Multiple Choice

A convenient rule of thumb called the "rule of 72" states that a quantity growing at x percent per year doubles in size approximately every (72/x) years.
-Refer to the information above.If an economy has a real GDP doubling-time of 48 years,this can be reduced to 30 years if annual GDP growth is raised by ________ percentage points.

• A)4
• B)2.4
• C)1.6
• D)0.9

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Definitions:

Social Facilitation

The tendency for people to perform better on simple tasks or skills in the presence of others.

Collectivist Cultures

Societies that prioritize the needs and goals of the group over individual desires, emphasizing interdependence, family ties, and social harmony.

Individualist Cultures

Societies that prioritize the needs and goals of the individual over the needs and goals of the group.

Solomon Asch

A psychologist known for his research on conformity and social pressure.