4. Using the rule of 70 Suppose some hypothetical economy has experienced an annual growth rate of 4%. Top economists have identified several policies that will increase the growth rate. In order to convince government officials of the importance of their plan, they intend to compare the number of years it will take for the economy to double, based on different growth rates. Using the rule of 70, determine the number of years it will take the economy to double at each growth rate. Growth Rate (Percent) 4 5 6 Years Required to Double (Nearest whole number of years) 000

4. Using the rule of 70 Suppose some hypothetical economy has experienced an annual growth rate of 4%. Top economists have identified several policies that will increase the growth rate. In order to convince government officials of the importance of their plan, they intend to compare the number of years it will take for the economy to double, based on different growth rates. Using the rule of 70, determine the number of years it will take the economy to double at each growth rate. Growth Rate (Percent) 4 5 6 Years Required to Double (Nearest whole number of years) 000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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