According to the rule of 70, a 10% annual increase in real GDP would lead to a doubling of real GDP in seven years.

Name: According to the rule of 70, a 10% annual increase in real GDP would lead to a doubling of real GDP in seven years.
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The rule of 70 states that to approximate the number of years it takes for a variable to double, divide 70 by the annual growth rate of the variable. In this case, 70/10 = 7, so real GDP would double in seven years with a 10% annual increase.

According to the Rule of 70, a 10% Annual Increase