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:

Highly Liquid

Describes assets that can be quickly and easily converted into cash with minimal impact on their value.

Vouchers

Documents that serve as evidence of a transaction and propose a future payment, detailing the conditions and amounts to be paid.

Cash Register Tape

A continuous roll of paper used in a cash register to record transactions.

Debt Management

Strategies and processes used by individuals or organizations to handle their debt effectively.