Concept explainers
Real consumption One of the components of the U.S. real gross domestic product (GDP) is real national consumption. Using U.S. Energy Administration data for selected years from 2014 and projected to 2040, this real consumption (in trillions of dollars) can be modeled by the function
(a) Is this model one of exponential growth or exponential decay? Explain.
(b) Graph this equation with a graphing utility to show the graph from 2010 through the year 2050.
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Mathematical Applications for the Management, Life, and Social Sciences
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