If output per capita doubles in 30 years and the population doubles in 60 years, what is the growth rate of output?

Question

Quizplus · Accepted Answer

Output per capita doubles in 30 years, so the growth rate of output per capita is (2^(1/30) - 1) * 100 = 2.4% per year. Since the population doubles in 60 years, the growth rate of population is (2^(1/60) - 1) * 100 = 1.2% per year. Therefore, the growth rate of output is 2.4% + 1.2% = 3.6% per year.

If Output Per Capita Doubles in 30 Years and the Population