chloeroebuck2021
Answered

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The average rate of growth for slow-growth countries is around 2% per year, and for fast-growth, greater than 5% per year.

1. Suppose the growth rate of the economy is 2%. The size of the economy roughly doubles every 10 years.
a) 50 years or more.
b) 20 years.
c) 35 years.
d) 5 years.

2. If instead the growth rate is 7%, the doubling time for the economy is 50 years or more.
a) 35 years.
b) 10 years.
c) 20 years.
d) 5 years.

Sagot :

lawrencemma2165
1. 35 years
2. 10 years

This is because of the rule of 70
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