If the current growth rate of real GDP per person is 10 percent a year, how long will it take for real GDP per person to double?

Question

Quizplus · Accepted Answer

The rule of 70 is a way to estimate the number of years it takes for a variable to double, given its annual growth rate. It states that dividing 70 by the annual growth rate gives the approximate number of years for doubling. In this case, 70 divided by 10 equals 7 years.

If the Current Growth Rate of Real GDP Per Person