Question 1 total reserves of mineral z are 140 million, Ask an Expert

Economics

Question: 1. Total reserves of mineral Z are 140 million tonnes. Current annual consumption is 18 million tonnes. If consumption is expected to grow by 4.5% a year, how long will these reserves last?

2. A country's gross national product (GNP) is forecast to grow at 3% per annum and its population is expected to expand at 1.5% per annum. GNP is currently $12,000 million and the population is 15 million, giving a GNP per capita of $800. When will GNP per capita reach $1,000?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92290871

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