In 2018, the U.S. GDP was approximately $ 2.5 trillion. However, India is growing faster than the U.S. a. If the U.S. economy grows at 3% per year, in what year will the U.S. GDP double to $40 trillion? (Hint—use the Rule of 70). b. If India’s economy grows at 7% per year, in what year will its GDP double to $ 5 trillion
In 2018, the U.S. GDP was approximately $ 2.5 trillion. However, India is growing faster than the U.S. a. If the U.S. economy grows at 3% per year, in what year will the U.S. GDP double to $40 trillion? (Hint—use the Rule of 70). b. If India’s economy grows at 7% per year, in what year will its GDP double to $ 5 trillion
Chapter1: Making Economics Decisions
Section: Chapter Questions
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In 2018, the U.S.
U.S.
a. If the U.S. economy grows at 3% per year, in what year will the U.S. GDP double to $40
trillion? (Hint—use the Rule of 70).
b. If India’s economy grows at 7% per year, in what year will its GDP double to $ 5 trillion
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