Suppose that in the future,real GDP per person grows 2 percent a year in the United States and 4 percent a year in China.It will take real GDP per person approximately ________ years to double in the United States and approximately ________ years to double in China.

Question

Quizplus · Accepted Answer

The Rule of 70 states that to find the doubling time of an investment or economy growing at a constant rate, you divide 70 by the annual growth rate. For the U.S., 70/2 = 35 years. For China, 70/4 = 17.5 years.

Suppose That in the Future,real GDP Per Person Grows 2