Problem
1. In an advanced industrial economy, population is observed to have grown at a steady rate from 50 to 55 million over the last 20 years. What is the annual rate of growth?
2. If the average quantity of petrol used per week by a typical private motorist has increased from 32.1 litres to 48.4 litres over the last 20 years, what has been the average annual growth rate in petrol consumption assuming that this increase in petrol consumption has been continuous? If, over the same time period, petrol consumption for a typical private car has fallen from 8.75 litres per 100 km to 6.56 litres per 100 km, what has been the average annual growth rate in the distance covered each week by a typical motorist?
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.