According to the "Rule of 70," how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%?

Question

Quizplus · Accepted Answer

The "Rule of 70" states that if we divide 70 by the growth rate (in percentage terms), we can get an estimate of how long it will take for a variable to double. So, in this case, 70/5 = 14 years. Therefore, it will take approximately 14 years for real GDP per capita to double at a growth rate of 5%.

According to the "Rule of 70," How Many Years Will