If Canada has an annual average growth rate of 2 percent, and China has an annual growth rate of 5 percent, it will take Canada 21 more years than China to double real GDP per person.

Question

Quizplus · Accepted Answer

Using the Rule of 70, which estimates the doubling time of an investment or GDP, Canada would take 35 years (70/2) to double its GDP, while China would take 14 years (70/5). The difference is 21 years.

If Canada Has an Annual Average Growth Rate of 2