with explanation 1) According to the "Rule of 70" if a variable grows at a constant rate of 5% per year, approximatelyhow many years would it take for the level of that variable to double?Α. 14В. 350С. 70D. 652) Suppose that x; = (1.03)'xo and y; = (1.05)'yo. Let z be given by z =growth rates of x and y are constant. Approximately home many years will it take for the level ofz to double?(y/x). Assume that theA. 8.75В. 140C. It will never double.D. 353) Real GDP per capita in the U.S. in 2018 is $52,879. Suppose that the U.S. Government expectsReal GDP per capita to grow at a constant rate of 3% per year for the next 20 years, that is untilyear 2038. What would the level of per-capita GDP approximately be in the USA in 2038according to the Government's expectations?A. $84,606.B. $95,505.C. $1,089,307.D. None of the above.

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1) According to the “Rule of 70" if a variable grows at a constant rate of 5% per year, approximately how many years would it take for the level of that variable to double? A. 14 В. 350 С. 70 D. 65

1) According to the “Rule of 70" if a variable grows at a constant rate of 5% per year, approximately how many years would it take for the level of that variable to double? A. 14 В. 350 С. 70 D. 65

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter17: Capital And Time

Section: Chapter Questions

Problem 17.2P

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