Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The rule of 70 and the rule of 72 give rough estimates of the number of years it would take for a certain variable to

Therule of 70and theruleof72give rough estimates of the number of years it would take for a certain variable to double. When using therule of 70, the number70is used in the calculation. Likewise, when using theruleof72, the number72is used in the calculation, According to the rule 70 and 72, if a 10% annual increase in real GDP would lead to a doubling of real GDP in how many years? Use the rule 70 and 72 calculation. (use separate calculations)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The End Of Poverty Economic Possibilities For Our Time

Authors: Jeffrey D Sachs, Bono

1st Edition

0143036580, 9780143036586

More Books

Students also viewed these Economics questions

Question

Why is intrinsic motivation healthier than extrinsic motivation?

Answered: 1 week ago

Question

How should a consultant be selected?

Answered: 1 week ago

Question

Why is a consulting contract needed?

Answered: 1 week ago