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Consider Two Scenarios for a Nation's Economic Growth

Question 40

Multiple Choice

Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5%; scenario B has an average annual growth of 4.5%. The nation's real GDP would double in about:


A) 20 years under scenario A, versus 30 years under scenario B
B) 20 years under scenario A, versus 16 years under scenario B
C) 12 years under scenario A, versus 16 years under scenario B
D) 16 years under scenario A, versus 30 years under scenario B

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