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Problem 3: Suppose that the Belgian real GDP grows at 1% per year and you would want to predict future GDP levels. (Hint: Use natural
Problem 3: Suppose that the Belgian real GDP grows at 1% per year and you would want to predict future GDP levels. (Hint: Use natural logs, 1.11::1'}, for your answers."] a} How many years will it take for the Belgian real GDP to double? 1:] Evaluate the following statement: \"Because 111(2) is 0.393 and ln{1 + g} is very.r close to g, a test wa},r to approximate the time it takes for any growing variable to double is given by dividing T by the growth rate as a percentage number". (Hint: Conrm this statement with your previous result and g" = ll and g?" = ELL} 'Rememb-er from class: one = {1+ gi'eee
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