Question

Footware manufacturing is projected to decrease output by 8.4% from 2006 to 2016. If footware manufacturing had 1.8 billion dollars of output in 2006, approximately how much output is expected in 2016?
a.
$1.95 billion
b.
$2.64 billion
c.
$1.55 billion
d.
$1.65 billion

Answer 1

Decrease = 1.8 × (1 − 0.084) = 1.8 × 0.916 = 1.6488 ≈ $1.65 billion.

Answer: d.