Answer to Question #154359 in Macroeconomics for Nishtha

Question

Forecast the demand for the rice for a country for the year 2019 on the basis of 7-year data given in table:

Year                                             2012 2013 2014 2015 2016 2017 2018

Population (millions)                     10    12     15   20     25   30    40

Rice consumed (million tonnes)    40    50     60   70    80    90   100

Answer 1

On the basis of 7-year data given in table the demand for the rice for a country for the year 2019 is 110 million tonnes. The expected population is 50 million people.