The Rule of 70 is used toSelect one:A. calculate the standard of living.B. estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour.C. estimate how much of an economy's growth rate is attributable to technological advance.D. estimate how long it will take the level of any variable to double.O E. calculate the economy's growth rate.

The rule of 70 is a mathematical shortcut that gives a smooth way to estimate how long it will take…

The Rule of 70 is used to Select one: O A. calculate the standard of living. B. estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour. O C. estimate how much of an economy's growth rate is attributable to technological advance. O D. estimate how long it will take the level of any variable to double. O E. calculate the economy's growth rate.

The Rule of 70 is used to Select one: O A. calculate the standard of living. B. estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour. O C. estimate how much of an economy's growth rate is attributable to technological advance. O D. estimate how long it will take the level of any variable to double. O E. calculate the economy's growth rate.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 1P

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