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Macroeconomics Final - Part 1 of 4!
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
Problem 11
Problem 12
Problem 13
Problem 14
Problem 15
Problem 16
Problem 17
Problem 18
Problem 19
Problem 20
Problem 21
Macroeconomics Final - Part 1 of 4!
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12. Productivity and Economic Growth / Growth Rates and the Rule of 70 / Problem 3
Problem 3
How does a change in growth rate from 2% to 3% affect the doubling time of an economy's GDP?
A
It has no effect on the doubling time.
B
It increases the doubling time by approximately 11.67 years.
C
It decreases the doubling time by approximately 5 years.
D
It decreases the doubling time by approximately 11.67 years.
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