Problem
In 2006, the population of Canada was 32.58 million. a) Statistics Canada bases its population projections on certain assumptions about fertility, life expectancy, and immigration. Using different sets of assumptions, they have made high and low projections of Canada's population in 2031: these being, respectively, 41.81 million and 36.26 million. Calculate the average annual growth rates of the population over the twenty five year period from 2006 to 2031 that underlie these two projections. (1.00 %, .43 %) b) Consider first the high projection. Assume that the average annual growth rate in GDP per capita over the period from 2006 to 2031 will be 4.00 per cent. Calculate what would be the average annual growth rate of GDP over the period. (5.04 %) c) Now consider the low projection. In making it, Statistics Canada assumes that the average annual growth rate of the population from 2006 to 2021 will be .50 per cent. Calculate the average annual population growth rate that it assumes for the period 2021 to 2031 in order to come up with the low projection of 36.26 million in 2031. (.32 %)
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.