If real GDP per person were equal to $2,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later?
A)$2,210
B)$4,000
C)$5,410
D)$20,000

Name: If real GDP per person were equal to $2,000 in 1900 and grew at a one percent annual rate, what would be the value of real GDP per person 100 years later? A)$2,210 B)$4,000 C)$5,410 D)$20,000
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Question

Quizplus · Accepted Answer

At one percent growth, the future value equation is: Future GDP = $2,000 × (1.01)¹⁰⁰ = $5,410.

If Real GDP Per Person Were Equal to $2,000 in 1900