Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Chinese economy is expected to grow at a rate of 8 percent a year between 2006 and 2010.China's goal is to quadruple its GDP.

The Chinese economy is expected to grow at a rate of 8 percent a year between 2006 and 2010.China's goal is to quadruple its GDP. By the end of2010, China's GDP will be equal to US$2.3 trillion or US$1,700 per person(2005 dollars) and by2020, China's GDP will be equal to US$4.7 trillion, or US$3,200 per person.

(Source: China Daily, March21, 2005)

If China continues to grow at 8 percent ayear, how many years will it take for GDP toquadruple?

In what year will China meet itsgoal?

If China continues to grow at 8 percent ayear, it will take______ years for GDP to quadruple.

Starting with 8 percent growth in2000, China will meet its goal during______.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Experimental Econophysics Properties And Mechanisms Of Laboratory Markets

Authors: Ji Ping Huang

1st Edition

3662442345, 9783662442340

More Books

Students also viewed these Economics questions

Question

What would you do?

Answered: 1 week ago