At the end of 1985 real GDP in the US was $7,712 billion (in 2009 US dollars). At the end of
2015 real GDP in the US was $16,490 billion (in 2009 US dollars). The growth rate of US real
GDP over these years was 2.56%
1. If US real GDP continues to grow at the rate of 2.56% a year in what year will US real
GDP be double that in 2016 (in 2009 US dollars)?
2. If population growth averages 1% per year in the US over the next 30 years in what year
will US real GDP per capita or per person be double that in 2016 (all in 2009 US dollars)?