If GDP Is Currently $13 Trillion and Is Growing at a Rate

question 221

Multiple Choice

If GDP is currently $13 trillion and is growing at a rate of 2.3% per year,how long will it take GDP to reach $26 trillion?

• A)about 15 years
• B)about 17 years
• C)about 25 years
• D)about 30 years

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Definitions:

Nominal-Level

Pertains to data classification into non-numeric categories that cannot be logically ordered or ranked.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Increases

A rise in magnitude, quantity, or value of something.

Negative Correlation

A bond between two variables in which the elevation of one corresponds with the reduction of the other.