Consider the Following Table for a Hypothetical Economy in Which

question 118

Multiple Choice

Consider the following table for a hypothetical economy in which the initial level of GDP ( ) in all cases is 1000.Assume that real GDP grows according to the equation ,where N is the number of years in the future.Numbers are rounded to the nearest whole number. Real GDP with Alternative Growth Rates TABLE 25-1
Note: This question requires a calculator with an exponent function.
Refer to Table 25-1.If this economy is growing at an annual rate of 4%,then real GDP in Year 50 will be

• A)2000.
• B)1268.
• C)2255.
• D)7107.
• E)51 000.

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