Question

At an annual growth rate of 3.5%, approximately how long does it take for real GDP per capita to increase from $30,000 to $60,000 in a country?

a. 5 years
b. 10 years
c. 15 years
d. 20 years

Answer 1

d. 20 years

Step-by-step explanation:

Rule 72 can be used calculate number of years that will be required to double GDP.

Number of Years = 72/ 3.5

= 22.5

on the given choices, the closest number of years is 20 years.