Homework Answers
The Rule of 70 is applied whereever somehthing is growing by some percentage or something is growing steadily. The Rule of 70 states that:
70 / doubling time = % of growth
or, 70 / % of growth = doubling time
Here, given that % of growth of rela GDP = 7%
So, doubling of output = 70/7 = 10 years
Thus, the output will double in approximately 10 years if real GDP grows by 7% annualy.
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QUESTION 16 The rule of 70 indicates that a 7% annual increase in the level of...
uestion Completion Status: QUESTION 2 Look at the table 1 and question 1. If the labor...
uestion Completion Status: QUESTION 2 Look at the table 1 and question 1. If the labor force participation rate is 70%, the unemployment rate is TOTAL POPULATION POPULATION AGE 16 AND OLDER 200 Million 150 Million 97 Million EMPLOYED 7.696 5% 4% 396 QUESTION 3 If the actual unemployment rate is 7% and the cyclical unemployment rate is 2%, then the natural rate of unemployment is: 2% 396 596 996 Save All Answers and submit. Click Save All Answers to...
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%, it will take how many additional years for that country to double its level of real GDP per capita? (Show Your Work)
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 2% instead of 3%
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 2% instead of 3%, it will take for that country to double its level of real GDP per capita. 30 additional years 11.7 additional years 35 fewer years 30 fewer years 35 additional years 23.3 additional years 23.3 fewer years 11.7 fewer years
The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the numb...
The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the number of years it would take to double GDP at various growth rates. Doubling times can be approximated by the rule of 72. Seventy-two divided by the growth rate equals the number of years it takes to double. Growth Rate Doubling Time (percent) (years) Never 144.0 72.0 48.0 36.0 20.6 20.6 18.0 16.0 14.4 13.1 12.0 11.1 China's output grew...
A nation’s average annual real GDP growth rate is 5%. Based on the "rule of 72,"...
A nation’s average annual real GDP growth rate is 5%. Based on the "rule of 72," the approximate number of years that it would take for this nation’s real GDP to double is 14.4 years. 12.5 years. 16.2 years. 10 years.
Thank You! QUESTION 30 Aggregate price level x Real GDP in the price level and a...
Thank You!
QUESTION 30 Aggregate price level x Real GDP in the price level and a decrease in the In the Aggregate Demand and Supply model (shown), an increase in nominal wages would cause an increase equilibrium level or real GDP in the short run. QUESTION 31 Aggregate price level Real GDP In the Aggregate Demand and Supply model (shown), if the government's budget deficit increases as a result of a tax cut with no cuts in spending, the result...
The accompanying graph shows the relationship between the average annual increase in the price level and...
The accompanying graph shows the relationship between the average annual increase in the price level and the average annual increase in money supply across eight countries. 45-degree I Harpoglia a. What concept, related to monetary policy, does this graph help demonstrate? Valko Cherbani O Ragnar Nurkse's balanced growth theory O the liquidity preference model O buffer theory O convergence hypothesis Caz Resa Tyndaria Harnnastas Veckram eGonmorl'n monetary neutrality Increase in money supply (%) Use the concept or model identified in...
Question 5 (15 points) In each graph below identify the equilibrium Price Level and Level of...
Question 5 (15 points) In each graph below identify the equilibrium Price Level and Level of Real GDP, label the equilibrium points P1 and GDP 1. On graph 1 show the impacts of COST PUSH inflation on the equilibrium level of prices and output. Label the new equilibrium points P2 and GDP2 On graph 2 show the impacts of an increase in Aggregate Demand on the equilibrium level of prices and output? Label the new equilibrium P3 and GDP3 Graph...
Question 20: A country has a 2008 growth rate of 4.2% and a 2007 GDP of...
Question 20: A country has a 2008 growth rate of 4.2% and a 2007 GDP of $8,222 (in billions). What was the GDP in 2008? Question 31: If a country's initial real GDP is $10,000 and its yearly growth rate of GDP is 3.5%, use the Rule of 70 to determine approximately how many years it would take for this economy to double its GDP. A) 24.5 years B) 7 years C) 4.5 years D) 20 years Question 38: Consider...
Price level 20- 18- 16- 14- 12- 10- 8- LRAS SRAS 4 2 0 AD 0...
Price level 20- 18- 16- 14- 12- 10- 8- LRAS SRAS 4 2 0 AD 0 10 20 30 40 50 60 70 80 90 100 Real GDP (billions of dollars)
uestion Completion Status: QUESTION 2 Look at the table 1 and question 1. If the labor force participation rate is 70%, the unemployment rate is TOTAL POPULATION POPULATION AGE 16 AND OLDER 200 Million 150 Million 97 Million EMPLOYED 7.696 5% 4% 396 QUESTION 3 If the actual unemployment rate is 7% and the cyclical unemployment rate is 2%, then the natural rate of unemployment is: 2% 396 596 996 Save All Answers and submit. Click Save All Answers to...
The Rule of 72 Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the number of years it would take to double GDP at various growth rates. Doubling times can be approximated by the rule of 72. Seventy-two divided by the growth rate equals the number of years it takes to double. Growth Rate Doubling Time (percent) (years) Never 144.0 72.0 48.0 36.0 20.6 20.6 18.0 16.0 14.4 13.1 12.0 11.1 China's output grew...
Thank You!
QUESTION 30 Aggregate price level x Real GDP in the price level and a decrease in the In the Aggregate Demand and Supply model (shown), an increase in nominal wages would cause an increase equilibrium level or real GDP in the short run. QUESTION 31 Aggregate price level Real GDP In the Aggregate Demand and Supply model (shown), if the government's budget deficit increases as a result of a tax cut with no cuts in spending, the result...
The accompanying graph shows the relationship between the average annual increase in the price level and the average annual increase in money supply across eight countries. 45-degree I Harpoglia a. What concept, related to monetary policy, does this graph help demonstrate? Valko Cherbani O Ragnar Nurkse's balanced growth theory O the liquidity preference model O buffer theory O convergence hypothesis Caz Resa Tyndaria Harnnastas Veckram eGonmorl'n monetary neutrality Increase in money supply (%) Use the concept or model identified in...
Question 5 (15 points) In each graph below identify the equilibrium Price Level and Level of Real GDP, label the equilibrium points P1 and GDP 1. On graph 1 show the impacts of COST PUSH inflation on the equilibrium level of prices and output. Label the new equilibrium points P2 and GDP2 On graph 2 show the impacts of an increase in Aggregate Demand on the equilibrium level of prices and output? Label the new equilibrium P3 and GDP3 Graph...
Price level 20- 18- 16- 14- 12- 10- 8- LRAS SRAS 4 2 0 AD 0 10 20 30 40 50 60 70 80 90 100 Real GDP (billions of dollars)
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