Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to take for real GDP to grow to $80 million? Select one: O A. 14 OB. 3.5 O C. 30 O D. 4 O E. 7

Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to take for real GDP to grow to $80 million? Select one: O A. 14 OB. 3.5 O C. 30 O D. 4 O E. 7

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...

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Question

Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to
take for real GDP to grow to $80 million?
Select one:
O A. 14
O B. 3.5
O C 30
O D. 4
O E. 7

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