A Convenient Rule of Thumb Called the "Rule of 72

question 8

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.An economy's real GDP per person doubles every 18 years when it maintains a growth rate of ________ per year.

• A)5.6 percent
• B)4.0 percent
• C)0.25 percent
• D)0.9 percent

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Definitions:

Qualified Fee

A type of estate in land that is subject to certain conditions or limitations, often contrasted with absolute ownership.

Alcoholic Beverages

Drinks containing ethanol, commonly known as alcohol, regulated by law in many parts of the world.

Tenancy at Will

A rental agreement allowing the tenant to occupy the property without a fixed term, terminable by either party at any time.

Estate at Sufferance

A situation where a tenant continues to occupy property after the lease term has ended, without the landlord's permission.