A nation's average annual real GDP growth rate is 7 percent. Based on the rule of 72, the approximate number of yearsthat it would take for this nation's real GDP to double is Multiple Choice 9.7 years. 72.0 years. 7.0 years. 10.3 years.

Given, GDP growth rate = 7 percent The rule of 72 : This is a calculation that estimates the number…

Answered: A nation's average annual real GDP…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 5P

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A nation's average annual real GDP growth rate is 7 percent. Based on the rule of 72, the approximate number of years that it would take for this nation's real GDP to double is Multiple Choice 9.7 years. 72.0 years. 7.0 years. 10.3 years.