The Gross National Product (GNP) is the value of all the goods and services produced in an economy, plus the value of the goods and services imported, less the goods and services exported. During the period 1994-2004, the GNP of Canada grew about 4.8% per year, measured in 2003 dollars. In 1994, the GNP was $5.9 billion.

Assuming this rate of growth continues, what will the GNP of Canada be (in billions) in the year 2020?

A. $1.64
B. $11.43
C. $19.96
D. $20.92

  C. $19.96

Step-by-step explanation:

The growth factor for one year is 1+4.8% = 1.048. Then in 26 years, the growth factor is modeled to be 1.048^26 ≈ 3.3837.

  3.3837·$5.9 billion = $19.96 billion

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Measured in 2003 dollars.

Comment on the problem statement

We believe the problem statement has imports and exports reversed. Exports are produced in Canada, so are included in their GNP. Imports are deducted from the GNP.

step-by-step explanation:

1. practice, practice & more practice

2. review errors

3. master the key concepts

do not try to memorise the processes.

4. understand your doubts.

5. create a distraction free study environment

6. create a mathematical dictionary

7. apply maths to real world problems.

the simplified form is

step-by-step explanation:

we want to simplify the expression,

let us change the middle bar to a normal division sign to obtain,

we multiply the first fraction by the reciprocal of the second fraction to obtain,

we factor to obtain,

we cancel the common factors to get,

we simplify to get,

the correct answer is b