An economy grows at an annual rate of 3%. It will take approximately years for GDP...

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An economy grows at an annual rate of 3%. It will take approximately years for GDP to double. (Round your answer to the neare

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Answer 1

Answer #1

As per the Rule of 72

When the growth rate is 3%, It will take 72/3 = 24 years for the GDP to double

When the growth rate is 10%, it will take 72/10 = 7 years for the GDP to double

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Answer 2

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