Read the news clip, then answer the following questions. It China reduces its ec
ID: 1220016 • Letter: R
Question
Read the news clip, then answer the following questions. It China reduces its economic growth rate from 11 percent a year to 7 percent, how many additional years will it take for GDP to double? In what year will China's GDP quadruple? When GDP grows at 11 percent a year, GDP in china doubles in years. When GDP grows at 7 percent a year, GDP in China doubles in years. When the growth rate of GDP decreases from 11 percent to 7 percent a year, GDP will double years later. At a growth rate of 7 percent a year and starting in 2011, China's GDP will quadruple in. Slowing down growth China's GDP growth target for the 12th Five-Year-Plan period 2011-2015 is 7 percent a year. This largely symbolic goal (China's average growth rate for the past five years was a whopping 11 percent a year) shows that the central government wants to fundamentally restructure the economy.Explanation / Answer
GDP will be double when the growth rate is 11%, here rule 70 is applicable.
GDP will doubled by= 70/11= 6.36 years
if the rate is 7%= 70/7= 10 years
it takes an aditional time of 4.64 years to double the GDP
at 7% growth rate the GDP will quadruple by= 144/7= 20.57 years
when a nation reaches its higher potential levels, those nations wants to be stand at the same level in all aspects. similarly china also till day their growth was 11% per annum, and now they targeted a growth of 7%. it does not mean that their growth was started decline. when the numbers cumulated the growth values comes down.
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