how-does-a-change-in-growth-rate-from-2-to-3-affect-the-doubling-time-of-an-econ

Question

How does a change in growth rate from 2% to 3% affect the doubling time of an economy's GDP?

Accepted Answer

It decreases the doubling time by approximately 11.67 years.

Answer

It has no effect on the doubling time.

Answer

It increases the doubling time by approximately 11.67 years.

Answer

It decreases the doubling time by approximately 5 years.