Economics  suppose that the GDP of california increases by 8.0% each year. how long will it take for the GDP of California to double? round your answer to one digit after the decimal.   _______years   suppose that the gdp of oregon today is exactly twice what it was 32 years ago. what was the average annual growth for oregon over this time period? round your answer to one digit after the decimal.   _____________% each year.

3. The country of Patagonia has produced the following quantity of gauges and potatoes, with the price of each listed in dollar terms. Year 1 Year 1 Year 2 Year 2 Quantity Price Quantity Price Gauges 8,000 $4 10,000 $3 Potatoes 6,000 $8 5,000 $14 (a) Using Year 1 as the base year, what is the growth rate of real GDP from Year 1 to Year 2? (b) Based on the GDP deflator, what is the inflation rate from Year 1 to Year 2?

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Using the economic data below, Which statement is true? Year GDP in Billions GDP Growth Rate Unemployment 5,839 2 5,987 2.5 3. 5,870 -2 6,136 4.3 Year 2 would be described as a Contraction & a Trough O Year 2 would be described as an Expansion only O Year 2 would be described as an Expansion & a Peak Year 2 would be described as a Contraction only

The following information is given for an economy:   Labor Force of an Economy                                                                                                 Number of People (millions) Total population                                                                                      46.5 Children under the age of 16                                                                    8.5 Retirees                                                                                                    7.8 Employed                                                                                                23.9 Unemployed                                                                                              2.5 Not actively seeking employment                                                             3.0 Homemakers                                                                                            0.8   Instructions: Round your answers to one decimal place.…

A country faces diminishing marginal returns when increasing it's capital stock. If this country added 100 units of capital last year and saw their GDP rise by $1,000 per person, what would you expect to happen if they had added 200 units of capital instead? O It is impossible to tell what would happen GDP would increase by less than another $1,000 per person GDP would increase by another $1,000 per person GDP would increase by more than another $1,000 per person

Course: Macroeconomics   Countries aim to improve and maintain the quality of life for their citizens. This works best when ____.     income inequality is high, and the government is democratic     consumption is high, and the government dictates the economic goals     the trade balance is negative, and the government is stable     income inequality is low, and the government is stable

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14)Suppose that the annual rates of growth of real GDP of Econoland over a five-year period are as follows:   Year Growth Rate (%) 1 3 2 1 3 – 2 4 4 5 5   Instructions: Round your answers to 2 decimal places.   a. What was the average of these growth rates in Econoland over these 5 years?          b. What term would economists use to describe what happened in year 3?           (Click to select)   Expansion   Recession    c. If the growth rate in year 3 had been a positive 2 percent rather than a negative 2 percent, what would have been the average growth rate?

question 1 Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What is New Zombie’s real GDP? If work hours increase to 210 in year 2 and productivity rises to $10 per hour, what is New Zombie’s rate of economic growth? Explain why sustained long-term economic growth comes from increases in labor productivity. Why do you think the trend rate of U.S. productivity growth has increased since the earlier 1973–1995 period?