Using the rule of 70, if the GDP per capita growth rate in the United States is 3.5 percent, standards of living double every

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The rule of 70 states that the number of years it takes for a quantity to double is approximately 70 divided by the annual growth rate. In this case, the annual growth rate is 3.5 percent, so the number of years it takes for GDP per capita to double is approximately 70 / 3.5 = 20 years.

Using the Rule of 70, If the GDP Per Capita