The Rule of 70,as Applied to Real GDP Growth,can Be

question 197

Multiple Choice

The Rule of 70,as applied to real GDP growth,can be used to find the

• A)real GDP growth rate necessary to double growth.
• B)number of years it takes for the level of real GDP to double.
• C)growth rate of real GDP.
• D)number of years it takes for the growth rate of real GDP to double.
• E)population growth rate necessary to double the GDP growth rate.

---

Definitions:

Beginning Inventory

The value of all the inventory held by a company at the start of an accounting period.

Ending Inventory

The total value of all inventory items that a company has in stock at the end of an accounting period.

Beginning Inventory

The value of inventory on hand at the start of an accounting period, consisting of raw materials, work-in-process, and finished goods.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the sum of beginning inventory plus purchases minus cost of goods sold.