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3 years ago

In Russia, suppose GDP per capita grows by 9.0 % per year for 31 years . By how many times does this economy grow?

Business

1 answer:

makkiz [27]3 years ago

8 0

Answer:

Russian Economy will grow by 14.46 times using 9% per year growth for 31 years.

Explanation:

Growth Rate = g = 9% = 0.09

Number of years = n = 31 years

Number of time economy grow = ( 1 + growth rate )^number of years

Number of time economy grow = ( 1 + g )^n

Number of time economy grow = ( 1 + 0.09 )^31

Number of time economy grow = 14.46 times

So, Russian Economy will grow by 14.46 times using 9% per year growth for 31 years.

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<h3>What is real income?</h3>

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For instance, Cameron's nominal income in 2012 is $35,000, but the inflation-adjusted (CPI) real income should be $34,400 based on his starting salary of $32,000 in 2008.

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Learn more about CPI and real income at brainly.com/question/24802187

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