If a nation's real output is growing by 8 percent per year,its real output will double in approximately:

Name: If a nation's real output is growing by 8 percent per year,its real output will double in approximately:
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Quizplus · Accepted Answer

Using the Rule of 70, which states that you can estimate the number of years it takes for a quantity to double by dividing 70 by the annual growth rate, we find that 70 / 8 ≈ 8.75, which rounds to approximately 9 years.

If a Nation's Real Output Is Growing by 8 Percent