Explanation:
The aggregate demand curve is downward sloping. It implies price levels are falling and the quantity of output will increase as well as the domestic income. The theories that can explain why the aggregate demand curve is downward sloping: the Pigou's wealth effect, the Keynes's interest-rate effect, and the and Mundell-Fleming's exchange-rate effect.
Answer:
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Answer: D. 8.75 years
<span>If real GDP in Puerto Rico is $48 billion and its annual growth rate is 8%. Real GDP for Puerto Rico will double in 8 years.
Real GDP will be 82.26 in 6yrs, 88.84 in 8 years and almost double (94.17) in 8.75 years. </span>
