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suppose that the gdp of california increases by 11% each year. how long will it take for the gdp of california to double?

Sagot :

To calculate how long will it take for the GDP will double:

Years To Double: 72 / Expected Rate of Return

Years To Double: 72 / 22%

Years To Double: 3,3 Years

Explanation:

GDP or also known as Gross domestic product generally can be defined as a monetary measure of the market value of all the final services and goods produced and sold in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator.

The formula of GDP is:

Gross domestic product = gross private investment + private consumption + government spending + government investment + (exports – imports).

Here you can learn more about gross domestic product brainly.com/question/14768180

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