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In: Economics

Population growth: Suppose the world population today is 7 billion, and suppose this population grows at...

Population growth: Suppose the world population today is 7 billion, and suppose this population grows at a constant rate of 3% per year from now on. (This rate is almost certainly much faster than the future population growth rate; the high rate used here is useful for pedagogy. If you like, you can use a spreadsheet program to help you with this question.)

  1. What would the population equal 100 years from now?
  2. Compute the level of the population for t = 0, t = 1, t = 2, t = 10, t = 25, and t = 50.
  3. Make a graph of population versus time (on a standard scale).
  4. Now make the same graph on a ratio scale.

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