If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:

Name: If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
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Question

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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, a 3.5% growth rate will double real GDP per capita in approximately 20 years (70/3.5 = 20).

If a Country Grows at an Average Rate of 3