Using the Rule of 70, if the country of Flowerdomʹs current growth rate of real GDP per person was 10 percent a year, how long would it take the countryʹs 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, you divide 70 by the growth rate. Therefore, 70/10 = 7. It would take 7 years for Flowerdom's real GDP per person to double with a 10 percent annual growth rate.

Using the Rule of 70, If the Country of Flowerdomʹs