Question

Use the rule of 70 to answer the question. If Ireland took 25 years to double its real GDP per capita, what was its average annual GDP per capita growth rate during this period? 11.67% 2.8% 50% 2.33% 7%

          Use the rule of 70 to answer the question.
If Ireland took 25 years to double its real GDP per capita, what was its average annual GDP per capita growth rate during this period?
11.67%
2.8%
50%
2.33%
7%

Added by Jennifer H.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Andrew Davis

07/13/2023

Step 1

The formula is: Years to double = 70 / Annual growth rate. Show more…

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Completed 18 out of 38 Show Question 19 of 38 oo Use the rule of 70 to answer the question. If Ireland took 25 years to double its real GDP per capita, what was its average annual GDP per capita growth rate during this period? 11.67% 2.8% 50% 2.33% 7% Submit All Completed18 out of38 Show Question19of38 Use the rule of 70 to answer the question @Macmillan Leamin If Ireland took 25 years to double its real GDP per capita, what was its average annual GDP per capita growth rate during this period? O 11.67% O 2.8% O 50% O 2.33% O7%