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If a nation's real GDP is growing at 2 per year its real output will double in approximately?
Wiki User
∙ 16y ago
1) For a quick approximation, use the rule of 72: divide 72 by the interest rate to find the number of periods it will take. In this case, 72/2 is 36 years.
2) For an exact answer, you can solve this problem: (1+r)^t = N, where r is the growth rate, t is the number of time periods, and N is the ratio of the original you want. For this problem, you'd have (1.02)^t = 2, and solving for t, we get t = (ln 2)/(ln 1.02) [or you can use log in place of ln]. Solving, this is 35.003 years.
Wiki User
∙ 16y ago
Wiki User
∙ 14y agoAssuming compount interest, for small percentages, you can use the 70-percent-rule - divide 70 by the the percentage, in this case, 70 / 4. For larger percentages this thumb-rule will be less exact. For more accurate calculations, you can use logarithms - log(2) / log(1.04) (note: 1.04 is 1 plus 4%). Logarithms are available on any scientific calculator, including the standard calculator available on Windows.
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What country has the largest manufacturing industry as the global manufacturing boost?
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cotton output and cloth output.
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both are increasing.
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The "GDP".
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An amplifier with tuned filters on both input and output.
What is linear op amp?
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It is false. ... .of yhe value of the nation`s output and the value of the income generated bybthe production of that output.
If you double the input of a function and it results in half the output and if you triple the input and it results in a third of the output what can be guessed about the function?
~the function is most likely inversely proportional. ~more input results in less output.
