If an economy's real GDP is growing by 5 percent per year, its real domestic output will double in approximately fourteen years.

Name: If an economy's real GDP is growing by 5 percent per year, its real domestic output will double in approximately fourteen years.
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Question

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The Rule of 70 states that to find the doubling time of an investment or economy growing at a constant rate, you divide 70 by the annual growth rate. For a 5% growth rate, 70/5 = 14 years.

If an Economy's Real GDP Is Growing by 5 Percent