Roughly how many years will it take a country that grows at an average rate of 2% per year to double the size of its GDP?
A)100
B)50
C)35
D)20
E)15

Question

Quizplus · Accepted Answer

The rule of 70 can be used to estimate the number of years it takes for a country to double its GDP. The rule of 70 states that the number of years it takes to double is approximately 70 divided by the annual growth rate. Therefore, for a country that grows at an average rate of 2% per year, it would take approximately 35 years (70/2) to double its GDP. Therefore, the best choice is C.

Roughly How Many Years Will It Take a Country That