Suppose that real GDP per capita in the United States is $49,000. If the long-term growth rate of real GDP per.capita is 1.6% per year, how many years will it take for real GDP per capita to reach $98,000? Instructions: Enter your answer as a whole number. years

Suppose that real GDP per capita in the United States is $49,000. If the long-term growth rate of real GDP per.capita is 1.6% per year, how many years will it take for real GDP per capita to reach $98,000? Instructions: Enter your answer as a whole number. years

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.3CE: Logarithms are especially useful for comparing series with two divergent scales since 10 percent...

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Suppose that real GDP per capita in the United States is $49,000. If the long-term growth rate of real GDP per.capita is 1.6% per year,
how many years will it take for real GDP per capita to reach $98,000?
Instructions: Enter your answer as a whole number.
years
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