From 2006 to 2010, per capita real gross domestic product GDP) in Poland grew an average of 4.71 percent per year. At that rate, according to the Rule of 70, in roughly how many years will the Polish economy double in size?

Question

Quizplus · Accepted Answer

By using the Rule of 70, we can estimate the number of years it takes for a variable to double by dividing 70 by the rate of growth. In this case, 70 divided by the average annual growth rate of 4.71% gives us approximately 14.9 years. Therefore, the answer is B) 14.9 years.

From 2006 to 2010, Per Capita Real Gross Domestic Product