This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 2004 36939 2005 37773 the numbers in part C in terms of natural log cause you to make an error in regards to the growth rate over a given decade. Typically the error is roughly 10% of what the actual growth rate is. The reason for this is because when we take the natural log between two numbers, you do not take into account the compounded interest on the growth from year to year. Part D- The largest growth rate in terms of decade was from 1960 to 1970. The economy grew by 33.04% in terms of Real GDP per Capita. The least growth in terms of decade was from 1950 to 1960. The growth in this decade was only 18.78%....
View Full Document
- Spring '10