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Using the Rule of 70, Calculate Approximately How Many Years

Question 10

Essay

Using the rule of 70, calculate approximately how many years it would take for a country's real per-capita GDP to double if the growth rate is:
a. 1 per cent
b. 2 per cent
c. 3.5 per cent
d. 10 per cent
e. 14 per cent

Correct Answer:

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a. 70 years
b. 35 ye...

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