Concept explainers
The expenditure on education in the U.S. is given in the following table. (Amounts are expressed in millions of 2001 constant dollars.)
(a) Let
(b) Is spending on education in the U.S. rising exponentially fast? If so, what is the growth-rate coefficient? [Hint: Use your solution to part (a).]
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Differential Equations (with DE Tools Printed Access Card)
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