The Growth Rate of Any Variable Y Between Periods T $y _ { t + 1 } / y _ { t }$

question 68

Multiple Choice

The growth rate of any variable y between periods t and t + 1 is the ________ and is given by the term ________.

• A) percentage of that variable; \(y _ { t + 1 } / y _ { t }\)
• B) percent change in that variable; \(\left( y _ { t + 1 } - y _ { t } \right) / y _ { t }\)
• C) percent change in that variable; \(y _ { t + 1 } - y _ { t }\)
• D) percent of that variable; \(\left( y _ { t + 1 } - y _ { t } \right) / y _ { t }\)
• E) percent change in that variable; \(\left( y _ { t + 1 } - y _ { t } \right) / y _ { t + 1 }\)

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Definitions:

Legal Tender

Currency that is officially recognized by a governmental authority as acceptable payment for debts.

Legal Tender

Currency that must be accepted if offered in payment of a debt, as decreed by a country's government.

Exact Tender

The requirement for a payment in the precise amount owed, without needing change.

Customary

Practices or actions that are accepted and expected within a particular community or society, based on traditions or long-standing use.