Recent content by Masao

Consider an imaginary economy that is currently growing at a rate of 4% per year According to the rule of 70, approximately how many years will it take for the economy to double in size? Round to nearest year Suppose an economist proposes a policy that leads to an increase in the economy’s...

If the interest rate is 12% per year, the present value of a $1,000 gift that you will receive two year from today ( rounded to the nearest dollar) is___