Problem
The ratio scale: Plot the following scenarios for per capita GDP on a ratio scale. Assume that per capita GDP in the year 2015 is equal to $10,000. You should not need a calculator or computer program. Use the Rule of 70 to label the value of per capita GDP on the graph in the years listed below.
(a) Per capita GDP grows at a constant rate of 5% per year between 2015 and 2085.
(b) Per capita GDP grows at 2% per year between 2015 and 2085, speeds up to 7% per year for the next 20 years, and then slows down to 5% per year for the next 28 years.
(c) Per capita GDP grows at 7% per year for 50 years and then slows down to 1% per year for the next 140 years.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.