Practice question · Estimate
A country grows at 2% a year. Using the rule of 70, set the slider to the years its GDP needs to double.
Estimate on a scale from 0 to 80 years (80).
Hints
- .
- .
Show the answer
35 (answers within ±2 count)
Why
years, a working lifetime per doubling. At 7% it would be one decade. Over a century, that gap compounds into different civilizations.
Practise Economic Growth
The app has 8 more questions on this lesson, and keeps your place in the course. Business I is free to start.
More questions on Economic Growth
- Two economies grow at 2% and 3.5%. Over a century, how different are they?
- Because ideas can be used by everyone simultaneously, technological progress escapes the diminishing returns…
- Order these steps of the virtuous growth circle, starting from secure institutions.
- Two countries invest the same in machines and schooling, and one grows much faster. Institutions are usually…
- Order this stylized development path.