If an economy's GDP will double in 15 years, then its growth rate must be about:

Name: If an economy's GDP will double in 15 years, then its growth rate must be about:
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Question

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Using the Rule of 70, which states that the doubling time of an investment or economy can be estimated by dividing 70 by the annual growth rate, we find that a growth rate of approximately 4.7% is needed to double GDP in 15 years (70/15 ≈ 4.7).

If an Economy's GDP Will Double in 15 Years, Then