Suppose Per Capita Real GDP Grows by 3

question 105

Multiple Choice

Suppose per capita real GDP grows by 3.5% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double (i.e., increase by 100%) ?

• A)3.5 years
• B)10 years
• C)20 years
• D)35 years

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