Suppose that the average annual rate of population increase in Econland in recent years was about 2 percent. Based on this rate of growth, the population of Econland will double in about
A) 7 years.
B) 11 years.
C) 35 years.
D) 46 years.

Question

Quizplus · Accepted Answer

The doubling time can be estimated using the Rule of 70, which states that the time it takes for a quantity to double is approximately 70 divided by the annual growth rate (in percent). For Econland, with a 2 percent growth rate, the doubling time is 70 / 2 = 35 years.

Suppose That the Average Annual Rate of Population Increase in Econland