If the growth rate of real GDP rises from 3% to 4% per year,then the number of years required to double real GDP will decrease from

Question

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The number of years required to double real GDP can be estimated using the Rule of 70, which states that dividing 70 by the annual growth rate gives the approximate number of years to double. For a growth rate of 3%, it takes 70/3 = 23.3 years, and for a growth rate of 4%, it takes 70/4 = 17.5 years.

If the Growth Rate of Real GDP Rises from 3