Question 2
(a) If x grows at 3% and y grows at -2% and w = x/y, calculate the growth rate of w.
(b) The president of the World Bank has asked you to calculate the average population growth rate of Hungary from 1970 to 2010. You know the population in 1970 was about 10.4 million and in 2010 about 9.5 million. What is the average annual growth rate?
(c) Suppose x = (1.04)^t and y = (1.02)^t. z = x^0.5y^0.5. Calculate the growth rate of z.
(d) Suppose x grows at 2% per year and yt grows at 5% per year, with x0 = 2 and y0 = 1. z = x^3/4y^1/4. Calculate the numerical values of z for t = 10.
(e) Over the past 50 years, Brazilâs population growth rate has averaged about 2.3%. According to the rule of 70, Brazils population will double in about how many years.