2) The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year. (b) What is the...

2) The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate<br>the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year. (b)<br>What is the difference in GDP between a growth rate of 2% and one of 3% over those 5<br>years? (Note: There is a note on compounding growth in the Canvas Module).<br>

Extracted text: 2) The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year. (b) What is the difference in GDP between a growth rate of 2% and one of 3% over those 5 years? (Note: There is a note on compounding growth in the Canvas Module).

Jun 08, 2022

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2) The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019. (a) Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year. (b) What is the...

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