Growth Rate Calculations. U. S. GDP in 2019 was $21.4 trillion, and U. S. GDP/person in 2019 was about $65,200, while China’s GDP in 2019 was $14.1 trillion (converted to US$ at market exchange rates), and China’s GDP/person in 2019 was $19,600 (converted to US$ at PPP-adjusted exchange rates).a)Suppose that U. S. real GDP continues to grow at its recent pace of 2.3%/yr. What will U. S. real GDP (in 2019$) be in 2029? (Recall that if a series y grows at a constant rate g, then yt= y0 (1+g)t.)