Ask Question
1 August, 03:40

Suppose a country's annual growth rate of real gdp per capita is approximately 2%. by which year would the country double its real gdp per capita from $10,000 in 1950 to $20,000?

a. 1970

b. 1985

c. 2000

d. 2005

+1
Answers (1)
  1. 1 August, 04:13
    0
    It should be 1986, but for the sake of the options it's most likely 1985. You just have to do trial and error. So 10,000 * 1.02^t (where t is the time in years). I've got 1.02 because it's a 2% increase from 100% (Basically decimal form).
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose a country's annual growth rate of real gdp per capita is approximately 2%. by which year would the country double its real gdp per ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers