Gross domestic product The table shows U.S. gross domestic product (GDP) in billions of dollars for selected years from 2000 to 2070 (actual and projected).
Year | GDP | Year | GDP |
2000 | 9143 | 2040 | 79,680 |
2005 | 12,145 | 2045 | 103,444 |
2010 | 16,174 | 2050 | 133,925 |
2015 | 21,270 | 2055 | 173,175 |
2020 | 27,683 | 2060 | 224,044 |
2025 | 35,919 | 2065 | 290,042 |
2030 | 46,765 | 2070 | 375,219 |
2035 | 61,100 |
Source: Social Security Administration Trustees Report
Assume that the GDP can be modeled with the function
(a) Use the model to find and interpret the instantaneous rates of change of the GDP in 2015 and 2025.
(b) Use the data in the table to find the average rate of change of the GDP from 2015 to 2025.
(c) How well does your answer from part (b) approximate the instantaneous rate of change of GDP in 2020?
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