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Answer the following question below. What is the rule of 70? If real GDP per capita...

Answer the following question below.

What is the rule of 70? If real GDP per capita grows at a rate of 3.75 percent per year, how many years will it take to double?

What are loanable funds? Why do businesses demand loanable funds? Why do households supply loanable funds?

Briefly describe the effect of the business cycle on the inflation rate and the unemployment rate. Why might the unemployment rate continue to rise during the early stages of an expansion?

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