The "rule of 70" is a formula for determining the approximate number of
A) years that it would take for a value (like real GDP) to expand 70 times.
B) years that it would take for a value (like real GDP) to double.
C) times a value (like real GDP) is a multiple of 70.
D) times one could double a certain value (like real GDP) over 70 years.

Question

Quizplus · Accepted Answer

The "rule of 70" states that to determine the approximate number of years it would take for a value to double, divide 70 by the percent growth rate of the value. For example, if the growth rate of real GDP is 3%, it would take approximately 23.3 years (70/3) for real GDP to double.

The "Rule of 70" Is a Formula for Determining the Approximate