If a country's annual growth rate is 2 percent, how many years will it take for this country's real per capita GDP to double?

Name: If a country's annual growth rate is 2 percent, how many years will it take for this country's real per capita GDP to double?
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

The rule of 70 states that to estimate the number of years for a variable to double, divide 70 by the annual growth rate. Therefore, 70/2 = 35. It would take 35 years for the country's real per capita GDP to double.

If a Country's Annual Growth Rate Is 2 Percent, How