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, in what year will the GNP reach $10 trillion?A. 2103B.2152C. 2164D.2168

Answer:   C. $19.96Step-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__Measured in 2003 dollars._____Comment on the problem statementWe 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.