If an economy has a real GDP per capita growth rate of 2%, it will take 14 years for GDP per capita to double.

Name: If an economy has a real GDP per capita growth rate of 2%, it will take 14 years for GDP per capita to double.
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Quizplus · Accepted Answer

The rule of 70 states that if the growth rate of real GDP per capita is x%, it will take approximately 70/x years for GDP per capita to double. Therefore, if the growth rate is 2%, it will take approximately 70/2=35 years for GDP per capita to double, not 14 years.

If an Economy Has a Real GDP Per Capita Growth