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Lera25 [3.4K]
3 years ago
15

Consider an imaginary economy that has been growing at a rate of 6% per year. Government economists have proposed a number of po

licies to increase the growth rate but first need to convince the president that the policies will pay off. To do so, they want to present a comparison of the number of years it will take for the economy to double, depending on the growth rate.
Using the rule of 70, determine the number of years it will take the economy to double at each growth rate.Growth rate(Percent Years Required to Double(nearest whole number of years)4 5 6
Business
1 answer:
Natasha2012 [34]3 years ago
8 0

Answer:

11.67 years

Explanation:

The rule of 70 requires that in determining when the economy growth rate will double its current growth rate, the appropriate thing to do is divide 70 by the current growth rate of 6% per year.

The economy's growth rate of 6%  has its percentage ignored when the calculation is carried out.

=70/6= 11.67  

The current economy's growth rate would double in 11.67 years' time

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6 0
3 years ago
Select the statements that are true.
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Explanation:

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Nat2105 [25]

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<h3>What is the market frequency?</h3>
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Learn more about market frequency here:

brainly.com/question/15591335

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8 0
1 year ago
How many 1/16 are in 3/4 of an imch
Goryan [66]
I'd say 12/16 is the answer
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3 years ago
Read 2 more answers
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