Average income in some East Asian countries,as measured by real GDP per person,has recently grown at an average annual rate that implies income will double about every
A)10 years.
B)15 years.
C)20 years.
D)25 years.

Question

Quizplus · Accepted Answer

The rule of 70 states that to find the doubling time of an investment or economic growth, you divide 70 by the annual growth rate. An average annual growth rate of about 7% would imply doubling every 10 years.

Average Income in Some East Asian Countries,as Measured by Real