The average of growth for slow-growth countries is around 2% per year, and for fast-growth, greater than 5% per year.


The average of growth for slow-growth countries is around 2% per year, and for fast-growth, greater than 5% per year. Suppose the growth rate of the economy is 2%.
a. The size of the economy roughly doubles every :
b. If instead the growth rate is 7%, the doubling time for the economy is:
c. Economy growth is important to understand because :


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