If GDP is currently $13 trillion and is growing at a rate of 4.1% per year,how long will it take GDP to reach $26 trillion?O about 17 yearsO about 15 yearsO about 25 yearsO about 30 yearsO Cannot be determined from information given.

By the Rule of 70 or 72 we estimate how much time to take economy double is time taken = 70/…

Answered: If GDP is currently $13 trillion and is…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...

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If GDP is currently $13 trillion and is growing at a rate of 4.1% per year, how long will it take GDP to reach $26 trillion? O about 17 years about 15 years about 25 years about 30 years