The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP (trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010). $ trillion (b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion (c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.) $ trillion
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP (trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010). $ trillion (b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion (c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.) $ trillion
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The following table shows the U.S.
| t = Year | 2004 | 2010 | 2014 |
|---|---|---|---|
| G = GDP (trillions of dollars) |
11.87 | 14.66 | 17.42 |
(a) Explain in practical terms what G(2010) means.
Find G(2010).
$ trillion
(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.)
(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)
$ trillion
(d) Use your answer from part (c) to predict the gross domestic product in the year 2024. (Round your answer to two decimal places.)
$ trillion
The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010.
Find G(2010).
$ trillion
(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.)
G
= $
trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)
$ trillion
(d) Use your answer from part (c) to predict the gross domestic product in the year 2024. (Round your answer to two decimal places.)
$ trillion
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