Suppose that real GDP per capita in the U.S. is $52,000.if the long-term growth rate of real

Fantastic news! We've Found the answer you've been seeking!

Question:

Suppose that real GDP per capita in the U.S. is $52,000.if the long-term growth rate of real GDP per capita is 3.0% per year,

how many years for real GDP per capita to reach $104,000?

Related Book For answer-question

Principles of Macroeconomics

ISBN: 978-0134078809

12th edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

See More Books

Posted Date: Mar 06, 2024 05:23 AM

See More Questions

Three forces act on an object. Two are pulling to the south, one with a magnitude of 35 N and the other with a magnitude of 23 N. The third force is pulling towards the north with a magnitude of 29...
GDP per capita in the United States was approximately $55,000 in 2015. Use the growth formula to answer the following questions: (a) What will it be in the year 2020 if GDP per capita grows each year...
The following table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the World Bank, World Development Indicators, for the past few...
How can adults continue to function relatively normally after surgery to remove the thymus, tonsils, spleen, or lymph nodes?
Bevedy earned a S75,000 salary and recognized a $7,200 loss on the sale of corporate stock this year. Compute her AGI in each of the following independent cases. a. Beverly had no other capital...
Write a line notation and two reduction half-reactions for each cell pictured above. Fe Ag Pb Pb KOH(aq) K2SO4 (aq) H,S04(aq) FeO(s) Ag 0(s) PbSO4(s) PbSO,(s) PbO2(s) Galvanic cells for Problem 13.8
Im gathering some information about the sales/collection process and how it is supposed to work. Okay?
Water Planet is considering purchasing a water park in Atlanta, Georgia, for $1,870,000. The new facility will generate annual net cash inflows of $460,000 for eight years. Engineers estimate that...
An airplane flies level in the + x direction 1 0 0 m above the ground at 1 6 0 m / s . the plane drops goods and supplies to some people on the ground. 1 . Draw the path the supplies would follow...
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
A reserved particle (mass m) is at rest. From the moment t=0, a constant force F is applied to it through an electric field. The acceleration takes place in a vacuum and continues until relativistic...
What does Model Rule 1.8 prohibit lawyers from doing in connection with litigation and their clients?
how would you use/interpret the ROS and ROA ratios to analyze the company's financial statement in Albion inc?
What SEC issues related to accounting data and operations and remedial actions assigned and penalties are given to Ixis Victor Alston, CEO of Ixis. Provide sources an date.
How do you determine the market value of a publicly traded company? write a brief procedure.
Can you think of any specific components that are essential to include in budget analysis and financial planning?
You are interested in investing in some stock. You find that the best stocks for this year include the companies listed below: Company Stock Price (U.S.) Starbucks NXP Semiconductors $85.77 $117.41...
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
The United States entered a deep recession at the end of 2007. The Fed under Ben Bernanke used aggressive monetary policy to prevent the recession from becoming another Great Depression. The Fed...
In which of the three market arenas is each of the following goods traded? a. The athletic skills of the Green Bay Packers quarterback Aaron Rodgers b. Shares of Nike stock c. The hair-braiding...
Normally, people from the United States and from around the world think of highly rated corporate or government bonds as a safe place to put their savings relative to common stocks. Because the stock...
What factors will make it difficult for Tesla to meet its stated objective of 5,000 Model 3 sedans per week? Explain why you think its stated objective should (or should not) have been different than...
What potential ethical issues do you see here? What are the strategic issues?
Should executives complete the strategic plan without input from other employees and managers? Why or why not?

Suppose that real GDP per capita in the U.S. is $52,000.if the long-term growth rate of real

Question:

Expert Answer:

We can solve this problem using the exponential growth formula Final value ... View the full answer

Principles of Macroeconomics

Students also viewed these economics questions