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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

The economy of country X is currently growing at 2 percent a year. How many years will it take to double the Real GDP of country X?

To determine

Calculate the years that double the real GDP.

Explanation

The technique of estimating the number of years that the values take to double is known as Rule of 70. It can be calculated as follows:

Number of years=70Growth rate

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