The following table shows the US, gross domestic product (GDP) G, in trillions of dollars, as a function of the year t t-Year G-GOP (trillions of dollars) (a) Explain in practical terms what G(2004) means O The expression G(2004) is the average of G(2004) and G(2010). 2004 2006 2010 11.87 14.37 14.66 O The expression G(2004) is the U.S. gross domestic product in trillions of dollars in the year 2004. O The expression G(2004) is the year when the U.S. gross domestic product had a value of 14.66 trillion dollars. O The expression G(2004) is the gross domestic product in trillions of dollars, multiplied by 2004. Find G(2004). $11.87 trillion (b) Use functional notation to express the gross domestic product in 2009, and estimate that value. (Round the estimated value to two decimal places) 2009 trillion (c) What is the average yearly rate of change in G from 2008 to 2010? (Round your answer to two decimal places) trillion

The following table shows the US, gross domestic product (GDP) G, in trillions of dollars, as a function of the year t t-Year G-GOP (trillions of dollars) (a) Explain in practical terms what G(2004) means O The expression G(2004) is the average of G(2004) and G(2010). 2004 2006 2010 11.87 14.37 14.66 O The expression G(2004) is the U.S. gross domestic product in trillions of dollars in the year 2004. O The expression G(2004) is the year when the U.S. gross domestic product had a value of 14.66 trillion dollars. O The expression G(2004) is the gross domestic product in trillions of dollars, multiplied by 2004. Find G(2004). $11.87 trillion (b) Use functional notation to express the gross domestic product in 2009, and estimate that value. (Round the estimated value to two decimal places) 2009 trillion (c) What is the average yearly rate of change in G from 2008 to 2010? (Round your answer to two decimal places) trillion

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

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 2006 2010
G- GDP
(trillions of dollars) 11.87 14.37 14.66
(a) Explain in practical terms what G(2004) means.
O The expression G(2004) is the average of G(2004) and G(2010).
O The expression G(2004) is the U.S. gross domestic product in trillions of dollars in the year 2004.
O The expression G(2004) is the year when the U.S. gross domestic product had a value of 14.66 trillion dollars.
O The expression G(2004) is the gross domestic product in trillions of dollars, multiplied by 2004.
Find (2004).
$11.87
trillion
(b) Use functional notation to express the gross domestic product in 2009, and estimate that value. (Round the estimated value to two decimal places.)
of 2000
trillion
(c) What is the average yearly rate of change in G from 2008 to 2010? (Round your answer to two decimal places.)
$
trillion
(d) Use your answer from part (c) to predict the gross domestic product in the year 2014. (Round your answer to two decimal places.)
trillion

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