According to the Rule of 70, a. if a country is growing at 7 percent per year,

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According to the Rule of 70,

a. if a country is growing at 7 percent per year, its output will double in approximately 10 years.

b. if a country is growing at 3.5 percent per year, its output will double in approximately 20 years.

c. if a country is growing at 1 percent per year, its output will double in approximately 70 years.

d. all of the above are true.

e. none of the above is true.

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Exploring Macroeconomics

ISBN: 9781111970314

5th Edition

Authors: Robert L. Sexton

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Question Posted: Oct 29, 2024 08:00 AM

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According to the Rule of 70, a. if a country is growing at 7 percent per year,

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Exploring Macroeconomics

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