Solve the Problem $1994 .$ Then Estimate the Country's Population, in Millions, in 2004

question 224

Multiple Choice

Solve the problem.
-The following table shows a country's population from 1995 to 1998:

Divide the population for each year by the population in the preceding year. Use this ratio to write the general term of the geometric sequence describing the country's population growth n years after $1994 .$ Then estimate the country's population, in millions, in 2004 .

• A) \(\mathrm { a } _ { \mathrm { n } } = 9.90 ( 1.04 ) ^ { \mathrm { n } - 1 } ; 14.09\) million
• B) \(\mathrm { a } _ { \mathrm { n } } = 9.90 ( 1.04 ) ^ { \mathrm { n } - 1 } ; 14.65\) million
• C) \(\mathrm { a } _ { \mathrm { n } } = 9.90 ( 1.03 ) ^ { \mathrm { n } - 1 } ; 16.73\) million
• D) \(a _ { n } = 9.90 ( 1.03 ) ^ { n - 1 } ; 15.78\) million

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Definitions:

Horizontal Equity

A principle in taxation and welfare distribution that posits individuals with similar income or ability to pay should be treated equally.

Vertical Equity

A concept in taxation that argues taxpayers with a greater ability to pay, such as those with higher income, should pay more in taxes.

Taxpayer Efficiency

The degree to which tax revenues are collected and used in an effective, cost-efficient, and minimal waste manner by the government.

Lump-Sum Tax

A tax that is a fixed amount, no matter the change in circumstance of the taxed entity.