According to the rule of 70, if a country doubles its real GDP per capita every 20 years, that country must be growing at an annual rate of:

Question

Quizplus · Accepted Answer

The rule of 70 states that the number of years it takes for a variable to double is approximately 70 divided by its annual growth rate. Therefore, for a country to double its real GDP per capita every 20 years, we can calculate the annual growth rate with (70/20) = 3.5%. Therefore, the answer is Choice B, 3.5%.

According to the Rule of 70, If a Country Doubles