Economics Test
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| A. 18-16/16 * 100 = 12.5%B. Real GDP must grow more rapidly than the populationC. savings finances investmentD. Calculate Growth Rate for Time Periods
slowed down from year to yearE. real GDP per personF. people make choices in pursuit of profitsG. temporary, because discoveries that lead to profits will eventually be used by all - replicatedH. from formal education and on-the-job learningI. 11%J. Real GDP/Aggregate Hours
6,460/170=38K. Not last because higher income leads to a population explosionL. Real GDP/Population
$14,257.43M. the government will not confiscate their income or savingsN. a sustained expansion of production possibilitiesO. 45P. 2.25-2.16/2.16 * 100 = 4.17%Q. the rule of law and ability to enforce the lawsR. How many times does Cape Verde have to double:?
1-2-4-8=3X 70/5.2=13 13X3=40S. 70/2.5 = 28
Double the current level of real GDP in about 28 yearsT. Growth Rate - Population Rate
Percentage Change formula to both: 2.8% |
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malanave