Suppose Per Capita Real GDP Grows by 10% Per Year

question 180

Multiple Choice

Suppose per capita real GDP grows by 10% 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) 70 years
• B) 7 years
• C) 10 years
• D) none of the above

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Definitions:

Ductus Arteriosus

A fetal blood vessel that allows blood to bypass the lungs, which closes soon after birth to establish the regular circulatory path.

Ductus Venosus

A fetal blood vessel that connects the umbilical vein to the inferior vena cava, allowing oxygenated blood from the placenta to bypass the liver and enter the systemic circulation.

Fetal Lungs

The lungs of a fetus, which are not used for breathing air but are critical for the development of the respiratory system.

Constitutional Amendment

A formal change or addition proposed or made to a constitution, altering its provisions or principles.