A small county wants to increase its real GDP from $18,000 to $36,000. If they want this to happen in 5 years, what rate of growth do they need to have each year? O 14% There is not enough information to answer this question. 7.78% O 5.5%

A small county wants to increase its real GDP from $18,000 to $36,000. If they want this to happen in 5 years, what rate of growth do they need to have each year? O 14% There is not enough information to answer this question. 7.78% O 5.5%

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 2PA

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Question

A small county wants to increase its real GDP from $18,000 to $36,000. If they want
this to happen in 5 years, what rate of growth do they need to have each year?
O 14%
O There is not enough information to answer this question.
7.78%
O 5.5%
O 17.5%

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