Author Question: To calculate the time required for real GDP to double, we _____. a. divide the annual growth rate ... (Read 77 times)

danielfitts88 · **on:** Jun 30, 2018

To calculate the time required for real GDP to double, we _____.
a. divide the annual growth rate by 72
b. divide 72 by nominal GDP
c. divide real output by 72
d. divide 72 by the annual growth rate
e. multiply real GDP by 72

Question 2

If one is interested in knowing whether or not a product is a normal good, one would be interested in the value of the:
a. elasticity of supply.
b. price elasticity of demand.
c. income elasticity of demand.
d. cross-price elasticity of demand.