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vladimir1956 [14]
3 years ago
15

At a 4 percent annual growth rate in GDP per capita, it will take

Engineering
1 answer:
allochka39001 [22]3 years ago
8 0

Answer:

At a 4 percent annual growth rate in GDP per capita, it will take 18 years for GDP per capita to double.

Explanation:

  • GDP stands for the gross domestic products. It is the basis to monitor the value of good and service in the market.
  • According to rule of 70:

Number of years to double = \frac{70}{annual growth rate}

                                             = \frac{70}{4}

                                             ≈ 18 years

In this way in total of 18 years the GDP will be double at the constant annual growth rate of 4%.

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