Author Question: If an economy is growing at a rate of 2.5 per year, how long will it take the economy to double in ... (Read 112 times)

joe · **on:** Jun 29, 2018

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.