Suppose the real GDP growth rate in Germany consistently averages 3.5% per year. Approximately how many years will it take for real GDP in Germany to double?

Question

BlackTom AI · Accepted Answer

The question asks how long real GDP in Germany would take to double if it grows at a constant 3.5% per year.
First, recall the relationship between growth rate and doubling time: doubling time ≈ 70 / (growth rate in percent) (the Rule of 70). Applying this rule with a growth rate of 3.5% gives 70 / 3.5 = 20 years, so the doubling time is about twenty years.
If you wanted to compute it exactly using the compound growth formula, you would solve (1 + r)^t = 2, where r = 0.035 and t is time in years. This yields t = log(2) / log(1.035) ≈ 0.6931 / 0.0345 ≈ 20.1 years, which is very close to 20 years, confirming the Rule of 70 estimate.
Note about the provided data: the answer options field is empty, so there are no listed alternatives to evaluate here. In typical multiple-choice formats, one would compare the computed doubling time to the given options to select the closest value; with a 3.5% growth rate, the correct choice would commonly be the option around 20 years. The stated correct answer 'b. 20' aligns with this calculation.

Suppose the real GDP growth rate in Germany consistently averages 3.5% per year. Approximately how many years will it take for real GDP in Germany to double?

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Suppose the real GDP growth rate in Germany consistently averages 3.5% per year. Approximately how many years will it take for real GDP in Germany to double?

Suppose the real GDP growth rate in Germany consistently averages 3.5% per year. Approximately how many years will it take for real GDP in Germany to double?

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