Answer to Question #137795 in Macroeconomics for Soma

Question

With a world population in 2003 of 6.314 billion and a projected population growth rate of 1.1% instead ( which is the united nation’s projection for the period 2003 to 2015)
a. Compute the doubling time
b. State the year in which the world’s population would be 12.628 billion

Answer 1

a) Using the rule of 70 for getting the doubling time ;

=$\frac{70}{Rate of growth }$, where r is the rate of growth.

=$\frac{70}{1.1}$ =63.63 yrs

Hence it will have a doubling time of 64 years

b)

$\frac{12.628}{6.314}=2$

This shows that its the doubling time hence

=2003+64 yrs =2067

=2067