Real GDP per capita in the country of Arcadia grew from about $4,703 in 1900 to about $42,731 in 2008, which represents an annual growth rate of 2.06 percent . if the arcadia continues to grow at this rate, calculate the number of years when its real GDP per capita will double_____ years . ( enter your response as an integers)

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 33P: An economy starts off with a GDP per capital of 12,000 euros. How large will the GDP per capita be...
icon
Related questions
Question
Real GDP per capita in the country of Arcadia grew from about $4,703 in 1900 to about $42,731 in 2008, which represents an annual growth rate of 2.06 percent . if the arcadia continues to grow at this rate, calculate the number of years when its real GDP per capita will double_____ years . ( enter your response as an integers)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Knowledge Booster
Growth Rate of GDP
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning