If an economy is growing at a rate of 2.5 per year, how long will ...

[joe]

If an economy is growing at a rate of 2.5 per year, how long will it take the economy to double in size?
 
  A) 60 years B) 43 years C) 36 years D) 28 years

Question 2

The drawback to calculating real GDP using base-year prices is that
 
  A) relative prices change over time and these are not reflected in base-year prices, and this distorts GDP.
  B) quality changes are reflected in base-year prices.
  C) relative prices change over time and these changes are reflected in base-year prices.
  D) real GDP in one year is not comparable to real GDP in another year.

[ngr69]

Answer to Question 1

D

Answer to Question 2

A

[joe]

Excellent

[okolip]

TYSM