The Rule of 70 Is Used to

question 165

Multiple Choice

The Rule of 70 is used to

• A) estimate how much of an economy's growth rate is due to increases in capital per hour of labor.
• B) calculate the standard of living.
• C) calculate the economy's growth rate.
• D) estimate how long it will take the level of any variable to double.

---

Definitions:

Camping Fee

A charge for the privilege of accessing and using facilities or spaces designated for camping.

National Parks

Protected areas established by governments for the conservation of nature, preservation of wildlife, and recreation, accessible to the public.

Economic Income

The total value of all income received by individuals or corporations, including both realized and unrealized gains.

Net Worth

The total value of all assets owned by an individual or corporation, minus the total value of all liabilities owed at a point in time.