A 2 percent growth rate will bring about a doubling of real GDP in about how many years?
A)1
B)2
C)35
D)70

Name: A 2 percent growth rate will bring about a doubling of real GDP in about how many years? A)1 B)2 C)35 D)70
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Question

Quizplus · Accepted Answer

The rule of 70 states that if the annual growth rate of real GDP is x percent, then real GDP will double in approximately 70/x years. Therefore, with a 2 percent growth rate, real GDP will double in approximately 70/2=35 years. Thus, the correct answer is C.

A 2 Percent Growth Rate Will Bring About a Doubling