Annual growth rates for countries whose GDP will double in roughly:

Annual growth rates for countries whose GDP will double in roughly:
a) 6.5 years
b) 10 years
c) 20 years

How many years will it take a country to double its GDP given the following growth rates:
a) 5%
b) 14%
c) 20%

Solutions

Expert Solution

1) As per the rule of 70, doubling time= 70/ annual growth rate

annual growth rate= 70/ doubling time

a. 70/6.5=10.77%

b.70/10= 7%

c.70/20=3.5%

2) Doubling time= 70/ annual growth rate

a.70/5= 14 years

b.70/14= 5 years.

c 70/20 =3.5 years

Rahul Sunny answered 2 years ago

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