If real GDP is 100 in year 1, and grows at a rate of 3 percent per year for 9 years, what will real GDP be in 9 years?
What will be an ideal response?
GDP [9 years later] = (1 + .03)9(100) = 130.48
Economics
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What will be an ideal response?
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_________ are defined as quantitative and/or qualitative criteria that reconcile resources with demands and serve as measures of values and goals
a. Attitudes b. Mid-level processes c. Standards d. 5-S principles
Economics