If the annual growth rate in Real GDP is 4 percent,then it will take 25 years for the economy to double in size.

Question

Quizplus · Accepted Answer

The rule of 70 states that to determine the approximate number of years it takes for a parameter to double, divide 70 by the annual growth rate in percentage terms. Therefore, if the annual growth rate in Real GDP is 4 percent, it will take approximately 17.5 years for the economy to double in size (70/4 = 17.5).

If the Annual Growth Rate in Real GDP Is 4