At an annual growth rate of 3.5% it will take approximately years for a country's GDP to double. Over the next 60 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 60 years the value of GDP will be $ million.

At an annual growth rate of 3.5% it will take approximately years for a country's GDP to double. Over the next 60 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 60 years the value of GDP will be $ million.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

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Question

At an annual growth rate of 3.5% it will take approximately
years for a
country's GDP to double.
Over the next 60 years, how many times will GDP double, assuming the growth rate does
not change?
If GDP starts at a value of $10 million, then in 60 years the value of GDP will be $
million.
In 60 years the value of GDP will be
times larger than it is today.
ASUS

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