Question

2- Using the Rule of 70, if the US economy is at $20 Trillion and grows continually at a rate of 3.5% per year, how long will it take to reach $40 Trillion?

50 Years

35 Years

10 Years

20 Years

3- Which of the following is not an example of how economic growth can be understated?

Global warming and other impacts on the environment

Improvements in product quality & technology

Less stress-free lifestyle

Increased leisure time

4- All of the following are factors that contribute to economic growth within a country, except:

Widespread use of copyrights and patents

Increased education levels and literacy

Well developed financial institutions

A command & control type economy using fewer markets

5- Which of the following is NOT a supply factor that can increase a nation's potential to grow?

Increased government spending

Increase in population (more workers)

Discovery of new natural resources

Improvements in technology

8- Economic growth is defined as:

An increase in Nominal GDP

An increase in Real GDP

An increase in GDP

Answer 1

Please post the other questions separately. Thanks and good luck:)

2 Change is fourn $20 to $40h, le double By the rule of to, Time to double = t - 70 20 20 - 120 years)