If It Took 20 Years for Real GDP to Double

question 30

Multiple Choice

If it took 20 years for real GDP to double, what was the growth rate of real GDP?

• A) 4.5 per cent
• B) 5 per cent
• C) 4 per cent
• D) 3.5 per cent
• E) 3.0 per cent

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Definitions:

Logical Incrementalism

A model that acknowledges that bringing about changes in a large organization is usually time-consuming and complicated, and presents a method of simplifying the process.

Successful Companies

Organizations that achieve their goals effectively, often marked by financial profitability, strong reputation, and customer satisfaction.

Organizational Development

A field of research, theory, and practice dedicated to expanding the knowledge and effectiveness of people to accomplish more successful organizational change and performance.

Top Management

The highest level of management in an organization, responsible for strategic decisions and company-wide objectives.