chloeroebuck2021
Answered

Welcome to Westonci.ca, where curiosity meets expertise. Ask any question and receive fast, accurate answers from our knowledgeable community. Ask your questions and receive accurate answers from professionals with extensive experience in various fields on our platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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
Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.