According to the rule of 70, a country growing at 3 percent per year doubles its GDP per capita approximately every

Name: According to the rule of 70, a country growing at 3 percent per year doubles its GDP per capita approximately every
Brand: Quizplus
Rating: 4.8 (56 reviews)

Question

Quizplus · Accepted Answer

The rule of 70 states that to find the doubling time of a quantity growing at a constant annual percentage rate, you divide 70 by the growth rate. For a 3% growth rate, 70 / 3 ≈ 23 years.

According to the Rule of 70, a Country Growing at 3