In year 2012, the size of an economy is equal to $15 trillion; in 2013, it increases to $16.5 trillion. If the economy maintains the same growth rate in the future, how long will it take in total to grow from $15 trillion to $30 trillion according to “the rule of 72”?

In year 2012, the size of an economy is equal to $15 trillion; in 2013, it increases to $16.5 trillion. If the economy maintains the same growth rate in the future, how long will it take in total to grow from $15 trillion to $30 trillion according to “the rule of 72”?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 10E

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