From 2017 to 2018 real per capita gross domestic product (GDP) in the United States grew by 2.2%. If this growth rate is sustained, according to the rule of 70, in roughly how many years will real per capita GDP double? O a) 40 years O b) 27 years O9 32 years O d) 14 years e) 70 years

From 2017 to 2018 real per capita gross domestic product (GDP) in the United States grew by 2.2%. If this growth rate is sustained, according to the rule of 70, in roughly how many years will real per capita GDP double? O a) 40 years O b) 27 years O9 32 years O d) 14 years e) 70 years

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...

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Question

From 2017 to 2018 real per capita gross domestic product (GDP) in the United
States grew by 2.2%. If this growth rate is sustained, according to the rule of 70, in
roughly how many years will real per capita GDP double?
a) 40 years
O b) 27 years
Oc) 32 years
O d) 14 years
e) 70 years

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