Suppose That a Nation Has a GDP of 1

question 88

Multiple Choice

Suppose that a nation has a GDP of 1.0 trillion dollars in 2000. If a country grows at an average rate of 3.0 % per year over a fifteen year period, then its compounded GDP at the end of the 15 year period should be:

• A) 1.47 Tr.
• B) 2.00 Tr.
• C) 1.33 Tr.
• D) 1.56 Tr.

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Definitions:

Hardship Case

An instance or situation in which an individual or group faces significant adversity or difficulty, often used in legal, financial, or medical contexts to denote special circumstances that require consideration.

Medicaid

A federally funded health cost–assistance program for low-income, blind, and disabled patients; families receiving aid to dependent children; foster children; and children with birth defects.

County Assistance

Programs and services provided by a county government to support its residents, especially in health, financial, or emergency situations.

Finance Charges

Costs associated with borrowing money, including interest and other fees.