Question
Bangladesh's GDP will double in square years. Although Bangladesh and India have the same annual growth rate, their economies are much different in size. One way to explain the size difference to someone who is unfamiliar with scaling large nümbers is to visualize it. India's GDP is a whereas Bangladesh's GDP is a few hundred busloads of 100 bills football field of 100 bills stacked to ten feet d. Which strateg are India's and Bangladesh's GDP? few busloads of 100 bills The best strategy square
Solution
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QuentinProfessional · Tutor for 6 years
Answer
###India's GDP is a football field of \$100 bills stacked to ten feet, whereas Bangladesh's GDP is a few hundred busloads of \$100 bills.
Explain
##Step1: Determine Doubling Time<br />###To find the doubling time of Bangladesh's GDP, we use the Rule of 70, which states that the doubling time in years is approximately \( \frac{70}{\text{growth rate}} \). Given that Bangladesh's GDP will double in 23 years, we can infer the growth rate as \( \frac{70}{23} \approx 3.04\%\).<br />##Step2: Visualize GDP Size<br />###To visualize the size difference between India's and Bangladesh's GDPs, consider the analogy of physical space occupied by currency. A football field of \$100 bills stacked to ten feet represents a much larger volume than a few hundred busloads of \$100 bills.<br />##Step3: Identify Best Strategy<br />###The best strategy to explain the size difference is to use the visualization of a football field of \$100 bills for India's GDP and a few busloads of \$100 bills for Bangladesh's GDP.<br /><br />#
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