If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:

Name: If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
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Question

Quizplus · Accepted Answer

The rule of 70 states that to find the number of years it takes for a variable to double, divide 70 by the annual growth rate. In this case, 70/3.5 = 20, so it will take 20 years for the country to double its real GDP per capita.

If a Country Grows at an Average Rate of 3