Author Question: According to the Rule of 70, if per capita GDP is growing at a rate of 5 percent per year, then it ... (Read 98 times)

drink · **on:** Jun 30, 2018

According to the Rule of 70, if per capita GDP is growing at a rate of 5 percent per year, then it will take __________ years for per capita income to double.
a. 14
b. 28
c. 70
d. 140

Question 2

Republicans in Congress pushed for the passage of the National Bank Act of 1863 because:
a. they wanted the executive branch to have more control over the amount of notes in circulation.
b. they wanted to encourage a mild inflation in the U.S.
c. they felt that the Act would reduce the temptation for weak administrations to over issue paper currency.
d. they wanted to reduce the number of banks in the U.S.

frre432 · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

a. 14

Answer to Question 2

c. they felt that the Act would reduce the temptation for weak administrations to over issue paper currency.