Using the Rule of 70, how many years would it take for a country's GDP to increase from $100 billion to $400 billion if it grows at 10% per year? 21 years 7 years 14 years 28 years

Q: If a country's initial real GDP is $48,861 and its yearly growth rate of GDP is 1.6%, use the Rule…

A: GDP is the gross domestic product.  GDP is the market value of all final goods and services produced…

Q: The table provides some data on real GDP and the population of Pacific in 2019 and 2020. Real GDP…

A: Real GDP is the nominal value of national production that has been modified to account for changes…

Q: Italy is a relatively rich country with per-capita GDP of $28,000. India is a relatively poor with…

A: The rule of 70 is a means of estimating the number of years it takes for an investment or money to…

Q: If US per capita GDP is $50,000 and grows at 3% per year, what will US per capita GDP be in 70…

A: Given: US per capita GDP=Present value=PV=$50,000Growth rate=i=3%n=70 years

Q: If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required…

A: Rule of 72 is used to calculate the no. of years it will take to double.  Rule of 72 can be…

Q: If real GDP in Country A amounted to $1.62 trillion in 2019 and $1.71 trillion in 2018, the real GDP…

A: Real GDP growth rate = [[Real GDP in 2019 - Real GDP in 2018] / Real GDP in 2018] * 100

Q: How do I calculate average percent growth of Real Per Capita GDP using FRED database for years…

A: The growth rate refers to the rate at which a variable changes in percentage terms from period to…

Q: Assume the real GDP per capita in the UK has been steadily increasing for the past SIXTY  years.…

A: Nominal Gross Domestic Product (GDP) is the value of total final commodities and services produced…

Q: In year 0, Country A has a real GDP per capita of $1,600. If Country A grows at a constant rate of…

A: Real GDP is the measure of GDP in base year brice.  Real GDP per capita is calculated as the real…

Q: GDP per capita in the United States was approximately $63,000 in 2020. Use the growth formula (see…

A: In this case, GDP per capita is discussed here. GDP per capita is actually the division between…

Q: An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534…

A:

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: In about twenty years, a country could approximately double its GDP if its sustaining an annual…

A: The answer is - 3.5%

Q: If GDP is $20 trillion, how many years will it take for GDP to increase to $160 trillion if annual…

A: GDP measures the value of goods and services that are produced within the economy in a given year.…

Q: According to the rule of 72,if the economy of the United Apex Emirates will double in 52 years, at…

A: The rule of 72 is an approximation to figure out doubling time required by an economy with a certain…

Q: Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5000. However,…

A: The term "gross domestic product" (GDP) refers to the production of goods and services at a specific…

Q: If real GDP per capita doubles between 2005 and 2020, what is the average growth rate of real GDP…

A: The idea of figuring out a variable's percentage increase over time is known as the growth rate. The…

Q: Achieving economic growth over a long period of time and raising standard of living, can be done…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Given:Years required to double real GDP per capita=25 yearsRate of population growth=0.9% per year

Q: Calculate approximately how many years it will take per capita GDP in the United​ States, Mexico,​…

A: So as to calculate the years to double using the rule 70: years to double = 70growth rate

Q: If a country has a per capita GDP of $5,200 and it grows at a 6% annual rate. How long will it take,…

A: Per capita GDP measured the standard of living of a country.  Per capita GDP is $5200 Annual growth…

Q: If real GDP grows at an annual 1.5%, then at approximately wh Round to one decimal place.

A: Real GDP per capita is the ratio of the real GDP of an economy with respect to the population. The…

Q: 12. The rule of 72 says that if something is growing by X% per period then it will double…

A: The Rule of 72 is a formula that is used to estimate the number of years required to double the…

Q: Real GDP per capita in the country of Arcadia grew from about $4,666 in 1900 to about $42,069 in…

A: The situation in which the overall flow of products and goods is calculated in the domestic market…

Q: Suppose that in the year 2020 there are two different countries - Sparta and Rome each with a real…

A: Real gross domestic product (real GDP) is an inflation-adjusted measure of an economy's output of…

Q: Practice with the rule of 70: If you inherit $20,000 this year and you invest your money so that it…

A: The rule of 70 is used by the business organizations and even the financial markets to determine in…

Q: Growth rates of per capita GDP: Compute the average annual growth rate ofper capita GDP in each of…

A: The rate at which the real gross domestic product of an economy changes from one period to another…

Q: A country starts with real GDP per capita of 500, and is growing at 4.3% per year. After 70 years,…

A: Given  Real Gdp per capita = 500  Growth rate = 4.3% = 4.3/100 = 0.043 After 70 years the real GDP…

Q: If real GDP for 2009 is $6400 billion (in 2012 dollars) and nominal GDP for 2010 is $6/20 billion,…

A:

Q: Suppose that real GDP per capita in the United States is $53,500. If the long-term growth rate of…

A: Real GDP per capita is the value of final goods and services produced in the economy adjusted for…

Q: If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it…

A: GDP refers to the value of all final goods and services produced in an economy over a given period…

Q: If Real GDP in the previous period was $15,840 billion, the economic growth rate is ________% in the…

A: In contrast to the nominal GDP growth rate, the real economic growth rate adjusts for inflation when…

Q: Consider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of…

A: To determine which country will have a higher per capita GDP when t=35 time periods (years), we can…

Q: I ncia.wwnorton.com b. Per capita real GDP doubled in South Korea again in only seven years,…

A: Real GDP in 1981 is $800 Real GDP in 1988 is $1600 Time period= 7 years

Q: Assume GDP of a (tiny) country at time zero is equal to $105.00105.00. Calculate GDP 11 years11…

A:

Q: Suppose a country has a real GDP per capita of $68,000 and grows at a constant rate for the next 36…

A: GDP per capita is calculated by dividing the total gross value contributed by all producers who are…

Q: At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over…

A: Using rule of 70, Doubling period = 70 / annual growth rate = 70 / 2 = 35 years

Q: 18  If real GDP is 250 in Year 1 and 300 in Year 2, what is the growth rate of real GDP Group of…

A: Given:  real GDP in year 1= 250  real GDP in year 2= 300

Q: If a country has a per capita GDP of $4,200 and it grows at a 5% annual rate. How long will it take,…

A: The economies around the world tend to focus on their economic growth, and development. The nations…

Q: Small differences in annual growth rates cumulate into large differences in GDP. Shown here are the…

A: