If real GDP per capita grows at a rate of 5% per year consistently over time, how many years would it take for it to double in size?
5
14
70

The purpose of indexing Social Security payments to the CPI is to ______.

increase corporate profits

justify continued government funding of the Bureau of Labor Statistics

avoid the privatization of Social Security (my answer)

maintain the purchasing power of retirees

37. Economists frequently use GDP per capita to better reflect ______.

the impact of prices on GDP

differences in living standards across countries

people who are employed

people who are both employed and unemployed (my answer)

38. During a recession ______.
unemployment and the growth rate of real GDP both decrease

unemployment decreases and the growth rate of real GDP increases

unemployment increases and the growth rate of real GDP decreases

there is no relationship between unemployment and the growth rate of real GDP

1. 👍
2. 👎
3. 👁
1. 1. Let' see if your answer works for a country with an initial GDP of \$50,000
50,000 * 1.05 = 52,500
52,500 * 1.05 = 55,125
55,125 * 1.05 = 57,881.25
Year 4: 60,775.31
Year 5: 63814,08
Will it reach 100,000 in ten years?

The next two are wrong.

38. Go back and check your book and then post your answer.

1. 👍
2. 👎

Similar Questions

1. ECON-HELP!!

1. In the Country of Wiknam, the velocity of money is constant. Real GDP grows by 5 percent per year, the money stock grows by 14 percent per year, and the nominal interest rate is 11 percent. What is the real interest rate? 2.

2. Help me check my calculus answers

1. Which of the following functions grows the fastest as x goes to infinity? - 2^x - 3^x - e^x inf f(x)/g(x) = 5 show? - g(x) grows faster than f(x) as x goes to infinity. - f(x) and g(x) grow at the same rate as x goes to

3. macroeconomics

23. The next four questions refer to the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Price Year output per unit 1 16 \$2 2 20 3 3

4. macroeconomics

Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP Deflator: 1 Inflation 2.2 Real GDP Per capita: _________ Population 283.7 Year – 2001 Nominal GDP: ________ Real GDP: 9,891 GDP Deflator: _________ Inflation 2.4 Real GDP

1. Economics

1) Which of the following is an example of a measure of labor productivity? a. Autos get 30 gallons to the mile. b. The growth rate of per capita real GDP is 3.5 percent per year. c. Farm workers produce 30 bushels of wheat per

2. Algebra

Initially, there were only 86 weeds in the garden. The weeds grew at a rate of 8% each week. The following function represents the weekly weed growth: f(x) = 86(1.08)x. Rewrite the function to show how quickly the weeds grow each

3. math

Average Growth Rate(2000-2009)of China - GDP: 10.9 Population: 0.8 Per Capita GDP: 10.1 Ethiopia - GDP: 7.5 Population: 2.8 Per Capita GDP: 4.7 How fast does total output(GDP)have to grow in order to raise per capita GDP in

4. Calculus check please

1. Which of the following functions grows the fastest as x goes to infinity? - 2^x - 3^x - e^x (my answer) - x^20 2. Compare the rates of growth of f(x) = x + sinx and g(x) = x as x approaches infinity. - f(x) grows faster than

1. math

A birch tree that is 4 ft tall grows at a rate of 1 ft per year. A larch tree that is 6 ft tall grows at a rate of 0.5 ft per year. Let the variable t represent time in years and h represent height in feet. In how many years will

2. civics

GDP Per Capita Poverty Rate Literacy Rate Avg. Life Expectancy Canada \$39,400 9.4% 99% 81.4 United States \$47,200 15.1% 99% 78.4 Cuba \$9,900 n/a 99.8% 77.7 Brazil \$10,800 26% 88.6% 72.5 Based on the information in the chart, which