Suppose Per Capita Real GDP Grows by 7% Per Year

question 48

Multiple Choice

Suppose per capita real GDP grows by 7% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double?

• A)4.9 years
• B)7 years
• C)10 years
• D)none of the above

Understand the interpretation of confidence intervals and their importance in statistical inference.

Distinguish between different types of variables in a multiple regression model.

Recognize the significance of statistical measures in assessing model fit and the relationships between variables.

Differentiate between simple and multiple linear regression models.

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