Using the Rule of 70, if the country of Flowerdom's current growth rate of real GDP per person was 10 percent a year, how long would it take the country's real GDP per person to double?

Question

Quizplus · Accepted Answer

The Rule of 70 states that to find the approximate number of years for a variable to double, we divide 70 by the percentage growth rate. So, in this case, 70/10= 7. Therefore, it would take Flowerdom's real GDP per person 7 years to double.

Using the Rule of 70, If the Country of Flowerdom's