The annual growth rate of an economy is 10 per cent.The economy's GDP will double in about ________ years.

Question

Quizplus · Accepted Answer

To find out how long it takes for the GDP to double, we can use the rule of 72 which states that the number of years it takes for an investment to double is 72 divided by the annual growth rate. In this case, 72 divided by 10 is approximately 7.2 years, so the closest option is C, 7 years.

The Annual Growth Rate of an Economy Is 10 Per