Solve for part B please. A) Real GDP per Capita in the US is currently $56,000...
Solve for part B please.
A) Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is currently $8,000 and grows at approximately 6.5% each year. If these growth rates continue, Real GDP per Capita for each country will be equal in how many years?
Answer: 41
B) Refer to the previous problem where Real GDP per Capita for Nigeria fell between 2016 & 2017. During this period, the population rose by 2.6%.
What is the growth rate of Real GDP for Nigeria between 2016 & 2017?
________?
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Solve for part B please.
A) Real GDP per Capita in the US is currently $56,000...
Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each...
Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is currently $8,000 and grows at approximately 6.5% each year. If these growth rates continue, Real GDP per Capita for each country will be equal in how many years? (round to the nearest integer)
Solve for part B please A) Real GDP per Capita (in 2010 US Dollars) for Nigeria...
Solve for part B please A) Real GDP per Capita (in 2010 US Dollars) for Nigeria was $2,455 in 2016 and fell to $2,410 in 2017. What is the percent growth rate for Real GDP per Capita for Nigeria between 2016 & 2017? Answer: -1.8 B) Refer to the previous problem where Real GDP per Capita for Nigeria fell between 2016 & 2017. During this period, the population rose by 2.6%. What is the growth rate of Real GDP for...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate -...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate - Inflation rate - Population growth rateThis equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .Today the RGDP per capita in A is _______ times the value in B.Country A is growing at a rate of 3.5 % per year and Country B is growing at a rate of 7 % per year. Assume these growth rates do not change.Country A will double its RGDP per capita in _______ years...
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation...
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
14) Suppose a country has a real GDP per capita of $2800 in 2010 and its...
14) Suppose a country has a real GDP per capita of $2800 in 2010 and its real GDP per capita grows to $4,000 in 2016. What is the annual growth rate in this period? A) 4.125% B) 4.500% C) 5.125% D) 5.500% E) 6.125% Page 14 Principles of macroeconomics, midterm
Calculate GDP per capita growth rate. Is there a big difference between GDP growth rate and...
Calculate GDP per capita growth rate. Is there a big difference between GDP growth rate and GDP per capita growth rate? Can you offer some explanations why they stay approximately the same and why they change from the information you have? (hint: check the difference in terms of real GDP vs real GDP per capita) Identify whether the country has experienced business cycle changes in the past 10 years combined your information from GDP or GDP per capita growth rate,...
Country A starts with real GDP per capita equal to $40,000 and Country B starts with...
Country A starts with real GDP per capita equal to $40,000 and Country B starts with real GDP per capita equal to $2,000. Today the RGDP per capita in A is ___ times the value in B. Country A is growing at a rate of 3.5% per year and Country B is growing at a rate of 7% per year. Assume these growth rates do not change. Country A will double its RGDP per capita in _____ years and country...
The table below contains real GDP per capita for selected years in the U.S., in 2011...
The table below contains real GDP per capita for selected years in the U.S., in 2011 U.S. dollars, from the Maddison data base. The variable yt denotes real GDP per capita in period t. Year GDP pc 1800y1800, - 1,980 91929 = 10, 543 1930 |y1930-9,490 1931y19318,864 1932|| y1932 7,525 1933 -7,270 1945 y1945-15,992 1948 y1948 14,559 U2007 = 50, 902 V2008-50,276 V2009-48,453 312010 49, 267 V2016 - 53,015 1933 y 2008y Suppose the annual growth rate between 1800 and...
20. In year 0, Country A has a real GDP per capita of $1,200. If Country...
20. In year 0, Country A has a real GDP per capita of $1,200. If Country A grows at a constant rate of 2% per year and Country A's population remains constant, what is Country A's real GDP per capita by year 20? (Round to the nearest dollar.)
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
14) Suppose a country has a real GDP per capita of $2800 in 2010 and its real GDP per capita grows to $4,000 in 2016. What is the annual growth rate in this period? A) 4.125% B) 4.500% C) 5.125% D) 5.500% E) 6.125% Page 14 Principles of macroeconomics, midterm
The table below contains real GDP per capita for selected years in the U.S., in 2011 U.S. dollars, from the Maddison data base. The variable yt denotes real GDP per capita in period t. Year GDP pc 1800y1800, - 1,980 91929 = 10, 543 1930 |y1930-9,490 1931y19318,864 1932|| y1932 7,525 1933 -7,270 1945 y1945-15,992 1948 y1948 14,559 U2007 = 50, 902 V2008-50,276 V2009-48,453 312010 49, 267 V2016 - 53,015 1933 y 2008y Suppose the annual growth rate between 1800 and...
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