Description
just several questions (like this👇 )
A country starts with a GDP of 200 and experiences annual growth of 2.5% Its GDP...
- after 10 years:____________________
- after 20 years:____________________
- after 30 years:____________________
A country starts with a GDP of 100 and experiences annual growth of 5%. Its GDP...
- after 10 years:____________________
- after 20 years:____________________
- after 30 years:____________________
Explanation & Answer
Attached.
Surname 1
Name
Professor
Course
Date
GDP Calculation
A = P (1+r/100)n
1. a.
200 (1+0.025)10 = 200 x 1.2801 =256
b. 200 (1+0.025)20 = 200 x 1.6386 =327
c. 200 (1+ 0.025)30 = 200x 2.0976 = 419
2.
a. 100 (1+0.05)10 = 100 x 1.6289 = 162.89
b. 100 (1+0.05)20 = 100 x 2.6533= 265.33
c. 100(1+0.05)30 = 100x 4.319 = 431.90
3. Productivity is defined as the economic measure of an output for every unit of input. The
inputs involve capital and labor while the outputs involve revenues and other GDP components
like the business inventory (Amaral et al. 131).
4. The three main determina...
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