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Development Economics
» Economic Growth 1 »
Rule of 70
» Rule of 70 - Practice Questions
Rule of 70 - Practice Questions
1. If a process is growing at a rate of x percent per period, then the doubling time is approximately 70/x periods. This is known as:
*
the doubling principle
the Kahlo growth theorem
the rule of 70
2. In the late 1960s, the world population was growing at about two percent per year. Today, the population growth rate is
*
higher
lower
the same
3. Between 1970 and 2008, medical spending in the U.S. grew at a rate of about four percent per year. Using the rule of seventy, this implies that medical spending will double in approximately _____ years.
*
17.5
50
35
