If Greenville’s GDP doubled over 5 years, what was the approximate annual growth rate (using the rule of 70)?

a) 20%
b) 5%
c) 9%
d) 14%

Question

chloeroebuck2021 chloeroebuck2021

06-03-2022
Social Studies

Answered

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If Greenville’s GDP doubled over 5 years, what was the approximate annual growth rate (using the rule of 70)?

a) 20%
b) 5%
c) 9%
d) 14%

Sagot :

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lawrencemma2165 lawrencemma2165 · Answer 1 · 2022-03-06T14:26:01-05:00

lawrencemma2165 lawrencemma2165

06-03-2022

The rule of 70 is used to determine how many years it will take for an economy to double in size. The equation is 70/percent growth = years to double. In this question, you are given the number of years and are asked to determine the percentage growth.

Therefore the answer would be d) 14%

Answer Link

If Greenville’s GDP doubled over 5 years, what was the approximate annual growth rate (using the rule of 70)? a) 20% b) 5% c) 9% d) 14%

Sagot :

Other Questions

If Greenville’s GDP doubled over 5 years, what was the approximate annual growth rate (using the rule of 70)?

a) 20%
b) 5%
c) 9%
d) 14%