In this exercise use the fact that in 2005 the GDP of the U.S. in trillions of dollars was 12.46, and the yearly growth factor for the GDP of the U.S. is 1.029. The economy of China is smaller than that of the United States but is growing more quickly. Here is a projection for the GDP of China:
In this exercise use the fact that in 2005 the GDP of the U.S. in trillions of dollars was 12.46, and the yearly growth factor for the GDP of the U.S. is 1.029. The economy of China is smaller than that of the United States but is growing more quickly. Here is a projection for the GDP of China:
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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In this exercise use the fact that in 2005 the GDP of the U.S. in trillions of dollars was 12.46, and the yearly growth factor for the GDP of the U.S. is 1.029.
The economy of China is smaller than that of the United States but is growing more quickly. Here is a projection for the GDP of China:
C = 8.2 × 1.06t.
In this projection t is the number of years since 2005 and C is the GDP of China, measured in trillions of U.S. dollars.
(a) Compare the percentage growth rates for the GDP of the United States and China.
(b) Find the year when the GDP of China will overtake the U.S. GDP.
The yearly growth factor for C is *blank* , so the percentage growth rate for the GDP of China is *blank* %. The percentage growth rate for the GDP of the U.S. is *blank* %. So the growth rate for the GDP of China is larger than that of the United States.
(b) Find the year when the GDP of China will overtake the U.S. GDP.
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