Question

According to a useful rule of thumb called the "Rule of 70" , if a country's economic growth rate is 4 percent a year, approximately how many years will it take to double its Real GDP?

Answer 1

17.5 years

Step-by-step explanation:

The rule of 70 calculates the amount of time it would take for an amount to double given its annual growth rate.

Number of years it takes to double = 70/ annual percentage growth rate

70 / 4 = 17.5 years

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