Krugman's Economics For The Ap® Course
Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
Question
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Chapter 7R, Problem 1MCQ
To determine

To find:

Number of years for economic growth to double.

Expert Solution & Answer
Check Mark

Explanation of Solution

According to the rule of 70, it calculates the time period that takes economy to double its growth.

Present rate of real GDP = 5% per year

According to rule of 70,

  705=35 years.

Thus, option C is correct

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