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Author Question: If the population growth rate is 2 percent, real GDP per person will double in 7 years if real GDP ... (Read 115 times)

crazycityslicker

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on: Jun 29, 2018
If the population growth rate is 2 percent, real GDP per person will double in 7 years if real GDP grows by ______ percent per year.
 
  A. 7
  B. 10
  C. 12
  D. 14

Question 2

Discuss the theory of the ability-to-pay principle.
 
  What will be an ideal response?


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spencer.martell

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C For real GDP per person to double in 7 years, the growth rate of real GDP per person must be 10 percent. If the population growth rate is 2 percent, then real GDP must grow at 12 per-cent.

Answer to Question 2

It is a theory of taxation which holds that citizens should bear tax burdens in line with their ability to pay taxes.


crazycityslicker

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

nanny

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Reply 3 on: Yesterday
Excellent

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