Approximately How Long Will It Take Ethiopia to Double Its

question 233

Multiple Choice

Approximately how long will it take Ethiopia to double its real GDP per person of $100 if its growth rate of real GDP per person is 0.9 percent?

• A)63 years
• B)77.7 years
• C)70 years
• D)109 years
• E)100 years

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Definitions:

Dominant Firm Oligopoly

A market structure in which a single firm has a predominant share of the total market, and the actions of this firm significantly influence the entire market's dynamics.

Industrial Regulation

Governmental regulation of industries to control and monitor their activities for the public good, often to ensure competition and prevent monopolies.

Natural Monopolies

A market structure in which a single supplier is the most efficient at delivering goods or services due to unique circumstances, often regulated by the government.

Market Power

The ability of a firm or entity to influence the price and production levels within a market.