Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend.
- The table below presents a brief summary of City A’s total spending, local
GDP , and population changes. Read the table and answer the following questions.
|
|
2010 |
2020 |
|
Total spending ($ million) |
89 |
104.12 |
|
Local GDP ($ millions) |
110 |
134 |
|
Population |
50,000 |
56,275 |
|
|
0.96 |
1.05 |
- Calculate per capita spending in 2010 and 2020, respectively, using constant dollars.
*Results round to the nearest dollar.
2010 per capita spending:
2020 per capita spending:
2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020
3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively.
*Results round to the nearest 2 decimal places.
2010 spending-to-GDP ratio:
2020 spending-to-GDP ratio:
- Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend.
4. Assuming City A’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City A’s population in 2030.
*Final results round to the nearest integer.
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