If the economy's output and income double in 35 years, we can:
A)not say anything about the average annual rate of growth.
B)conclude that its average annual rate of growth is about 5.5 percent.
C)conclude that its average annual rate of growth is about 2 percent.
D)conclude that its average annual rate of growth is about 4 percent.

Question

Quizplus · Accepted Answer

The Rule of 70 states that to find the doubling time of an investment or economy, you divide 70 by the annual growth rate. If the economy doubles in 35 years, the growth rate is approximately 70/35 = 2 percent.

If the Economy's Output and Income Double in 35 Years