he annual Gross Domestic Product (GDP) of a country is the value of all of the goods and services produced in the country during a year. During the period 1985-1999, the Gross Domestic Product of the United States grew about 3.2% per year, measured in 1996 dollars. In 1985, the GDP was $577 billion.

In what year will the GDP reach $2 trillion? You just need to give the year, not part of a year.

To determine the year when the GDP will reach $2 trillion, we can use the formula for compound interest:

GDP = Initial GDP x (1 + growth rate)^number of years

Let's calculate the number of years required:

$2 trillion = $577 billion x (1 + 0.032)^number of years

Dividing both sides by $577 billion:

3.467 = (1.032)^number of years

To isolate the exponent, we can take the logarithm of both sides:

log(3.467) = log((1.032)^number of years)

Using logarithmic properties, we bring down the exponent:

log(3.467) = number of years x log(1.032)

Dividing both sides by log(1.032):

number of years = log(3.467) / log(1.032)

Calculating this value:

number of years ≈ 45.74

Since we are looking for a whole year, we round up to the nearest whole number:

number of years ≈ 46

Therefore, the GDP will reach $2 trillion in 1985 + 46 years = 2031.

So, the GDP is estimated to reach $2 trillion in the year 2031.

To determine the year when the Gross Domestic Product (GDP) will reach $2 trillion, we will use the given information that the GDP of the United States in 1985 was $577 billion and that it grew at an average annual rate of 3.2% per year, measured in 1996 dollars, between 1985 and 1999.

First, we need to find the annual growth rate from 1985 to 1999. To do this, we can use the formula:

Growth Rate = (Final Value / Initial Value)^(1/Number of Years) - 1

Let's calculate the growth rate:
Final Value = GDP in 1999 = $577 billion * (1 + 3.2%)^14
= $577 billion * (1.032)^14
≈ $1.0807 trillion

Growth Rate = ($1.0807 trillion / $577 billion)^(1/14) - 1
= 0.0443 or 4.43% (rounded to two decimal places)

Now, we can calculate the number of years it will take for the GDP to reach $2 trillion:

$2 trillion = $1.0807 trillion * (1 + 4.43%)^n

Dividing both sides of the equation by $1.0807 trillion:
2 = (1 + 4.43%)^n

Taking the logarithm of both sides of the equation:
log(2) = log((1 + 4.43%)^n)

Using logarithm properties, we can bring the exponent down:
log(2) = n * log(1 + 4.43%)

Now, solving for n (number of years) using a calculator:
n ≈ log(2) / log(1.0443)
≈ 14.72

Since we're looking for a whole year, we can round up to 15 years. Adding 15 years to the initial year of 1985, we find:

1985 + 15 = 2000

Therefore, the GDP is projected to reach $2 trillion in the year 2000.

Please note that this calculation assumes a consistent growth rate, which may not be an accurate representation of actual economic conditions.