If the Secular Trend of Labor Productivity Rises from 2

question 185

Multiple Choice

If the secular trend of labor productivity rises from 2 percent per year to 4 percent, the number of years that it will take for the standard of living to double will decline by about

• A) 5.2 years.
• B) 10.1 years.
• C) 17.5 years.
• D) 23.8 years.

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