An economy with an average growth rate of 10 percent can expect to see its real GDP double in
approximately 7 years.

Name: An economy with an average growth rate of 10 percent can expect to see its real GDP double in approximately 7 years.
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Question

Quizplus · Accepted Answer

According to the Rule of 70, if you divide 70 by the annual growth rate, you get the number of years it takes for a variable to double. In this case, 70 divided by 10 equals 7 years.

An Economy with an Average Growth Rate of 10 Percent