CAPITALISM AND DEMOCRACY: AFFLUENCE, INEQUALITY, AND THE ENVIRONMENT - Economic growth

4 important questions on CAPITALISM AND DEMOCRACY: AFFLUENCE, INEQUALITY, AND THE ENVIRONMENT - Economic growth

Formula compound annual growth rate (CAGR)

CAGR= [ ((GDP year 2/ GDP year 1)^1/total years) - 1 ] x 100%

Numbers of years for real GDP per capita to double

70/ annual growth rate (%)

What does a steeper line mean?

A faster growth rate
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Why were there leaders and laggards after the industrial revolution?

In a lot of countries substantial improvement in peoples living standerds didn't occur until they gained independence from colonial rule or interference by European nations

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