If an economy doubles its growth rate in per capita GDP over 14 years, then the growth rate in per capita GDP averaged 5% per year.

Question

Quizplus · Accepted Answer

By using the Rule of 72, where the number of years it takes for a variable to double is approximately 72 divided by the annual growth rate, we can calculate that doubling the growth rate in per capita GDP over 14 years means an annual growth rate of approximately 5%.

If an Economy Doubles Its Growth Rate in Per Capita