Question

If the spending power of NAFTA consumers increased to $7.5 trillion and the NAFTA share changed to 17.5% of all combined spending power of NAFTA and the European Union, what is the increased spending power of the EU? Round to the nearest tenth of a trillion dollars

Answer 1

Answer: $35.3 trillion

Explanation:

NAFTA Spending power = $7.5 trillion

The spending power of the European Union will be denoted by E while the combined spending power will be denoted by E + N.

N = 17.5% of (E + N)

N = 17.5 / 100 (E + N)

100N = 17.5E + 17.5N

100N - 17.5N = 17 5E

82.5N = 17.5E

E = 4.7N

E = 4.7(7.5)

E = $35.3 trillion