The annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2% per year, measured in 1996 dollars. In 1985, the GDP was $577 billion. I what year did/or will the GDP equal $4.0 trillion?

ANSWERS

2016-04-16 07:04:41

GDP was a linear function of time (year) during the period of 1985-99. The slope is positive. Equation is: GDP(y)=(y-1985)*0.032*577+577=577*[(y-1985)*0.032+1] check: if y=1985, then GDP=577 . So, we need to solve for "y" this equation: GDP=4000=577*[(y-1985)*0.032+1]then, y=[4000/577-1]/0.032+1985 = 2170.4 we solveGDP=2200=577*[(y-1985)*0.032+1] [4 is replaced by 2.2] y=[2200/577-1]/0.032+1985=2072.9 [almost 2073]

2016-04-16 07:05:56

Trillion is not a number baby

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