According to the rule of 70, how long will it take for Macroland's real GDP per capita to double if its annual growth rate is 3.5%?

Name: According to the rule of 70, how long will it take for Macroland's real GDP per capita to double if its annual growth rate is 3.5%?
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Quizplus · Accepted Answer

The rule of 70 is a way to estimate the number of years it will take for a quantity to double, given its annual growth rate. It is calculated by dividing 70 by the annual growth rate. In this case, 70 divided by 3.5 equals 20 years.

According to the Rule of 70, How Long Will It