Question

Question 14

Suppose for the country of Monique-land, the annual inflation rate is 2%, the population growth is 5% per year while GDP increases by 5%. How long would it take for the country to double its GDP?

Group of answer choices

7 years

14 years

20 years

Never

Question 15

For the previous question, how long would it take Monique-land to double its GDP per capita?

Group of answer choices

7 years

14 years

20 years

Never

Question 16

For Monique-land, how long would it take for prices to double?

Group of answer choices

7 years

10 years

35 years

Not enough information

Answer 1

14) B. When GDP increases by 5% then number of years to Double GDP.070/5=14 years

15) D. Never. When GDP and population both grows at 5% it means per capital GDP remains same and GDP per capita remains same.

16)C. When inflation rate is 2% then number of years to double the prices are 70/2=35 years