Social Studies
17.07.2021 08:54
103
160
7
Solved by an expert
Scenario: growth rates in two countries india is growing at a rate of 9% per year,
Scenario: growth rates in two countries india is growing at a rate of 9% per year, and its real gdp per capita is about $3,500, while the united states is growing at a rate of 3% per year, and its real gdp per capita is about $47,000. (scenario: growth rates in two countries) look at the scenario growth rates in two countries. how long will it take the united states to double its real gdp per capita?
Show Answers
major126
5,0(64 marks)
23,33 years.
Explanation:
We can use the rule of 70 to calculate what the value of a variable might be in the future(taking into consideration that it is an estimate). This rule is pretty efective to determine the amount of years that take a variable to double.
The rule of 70 is representated in this formula:
The annual rate of Growth is 3%
We replace:
Note: In the formula we need to put the percentage not divided by 100 but complete, so we put 3 instead of 0.03 for the formula to work.
At a constant growing rate of 3% per year, the United States would rake 23,33 years to double its real GDP per capita.
bobyjoetato4599
4,7(62 marks)
May you mark me brainliest please thank you have a blessed day
Explanation:
Popular Questions about the subject: Social Studies
Based on the passage, which statement expresses an assumption behind the Articles...
Social Studies
12.12.2021 06:12
What connection can be drawn between the Treaty of New Echota and the Trail of...
Social Studies
19.06.2023 23:47
A customer has a question about a legal process within an organization, but the...
Social Studies
05.10.2021 22:20
Which of the following best describes the Anti-Federalists? A. people who were...
Social Studies
20.06.2020 00:02
Which of the following was NOT a divisive issue between the North and the South...
Social Studies
23.01.2022 02:39
After the attack on Pearl Harbor, President Franklin Delano Roosevelt proclaimed...
Social Studies
25.02.2022 11:09
What is ideology of Pakistan class 9...
Social Studies
10.05.2021 03:21
You use a flashlight to observe a mineral. What can you conclude if the mineral...
Social Studies
10.04.2020 01:51
Which tool can be used to test the luster of a mineral? (2 points) a Copper penny...
Social Studies
07.10.2020 19:52
New questions by subject
What is the best definition of concentration camp? a type of prison where people...
Social Studies
23.02.2020 20:14
Oak City received 59 9/10 inches of rain in 1987. The amount of rainfall in April...
Mathematics
05.05.2020 17:37
] and Brainliest! Alex got a iPhone 11 for Christmas as a present. After spending...
Mathematics
09.04.2023 23:51
Who else wanna cut dem self who else getting bullied who else hates them self...
English
10.10.2022 10:32
Last week, Vivian spent a total of $20.00. She spent $9.95 for tickets to the...
Mathematics
22.04.2023 03:19
Un jugador de fútbol quiere hacer llegar el balón desde la portería a una distancia...
Physics
05.09.2021 01:28
Damien dilates PQR shown on the coordinate grid with the scale factor of 0.5...
Mathematics
30.06.2023 04:27
The break-even point is the sales level at which a company: (Check all that apply.)...
Business
23.07.2022 19:59
Consider the given 1H NMR spectrum, including TMS as reference, of a compound...
Chemistry
04.06.2023 02:21
Find out answers to questions
from an AI-bot
from an AI-bot
Get full access
Answers
