QuestionApril 20, 2025

A country will roughly double Its GDP In twenty years if its annual growth rate Is: A 12 percent. B 7.5 percent. C 3.5 percent. D 2.5 percent.

A country will roughly double Its GDP In twenty years if its annual growth rate Is: A 12 percent. B 7.5 percent. C 3.5 percent. D 2.5 percent.
A country will roughly double Its GDP In twenty years if its annual growth rate Is: A 12 percent. B 7.5 percent. C 3.5 percent. D 2.5 percent.

Solution
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Answer

C 3.5 percent. Explanation 1. Use the Rule of 70 The Rule of 70 estimates doubling time as \frac{70}{\text{growth rate}} . 2. Calculate Doubling Time for Each Option A: \frac{70}{12} \approx 5.83 years B: \frac{70}{7.5} \approx 9.33 years C: \frac{70}{3.5} \approx 20 years D: \frac{70}{2.5} \approx 28 years

Explanation

1. Use the Rule of 70<br /> The Rule of 70 estimates doubling time as $ \frac{70}{\text{growth rate}} $.<br />2. Calculate Doubling Time for Each Option<br /> A: $\frac{70}{12} \approx 5.83$ years<br /> B: $\frac{70}{7.5} \approx 9.33$ years<br /> C: $\frac{70}{3.5} \approx 20$ years<br /> D: $\frac{70}{2.5} \approx 28$ years
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