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 Nigeria between 2016 & 2017?
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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 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...
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...
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...
Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars),...
Nominal and real GDP The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966–2016. Year nominal GDP ( billions of dollars) real GDPBILLIONS OF 2007 DOLLARS POPULATION thousands 1966 64.8 431.9 19998 1976 200 658 23414 1986 524.5 897 26067 1996 857 1104.3 29570 2006 1492.2 1541.7...
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,...
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars)
The accompanying table shows data on nominal GDP (in billions of dollars), real GDP (in billions of 2009 dollars), and population (in thousands) of the United States in 1965,1975,1985,1995,2005, and 2015 . The U.S. price level rose consistently over the period 1965-2015.YearNominal GDP (billions of dollars)Real GDP (billions of 2009 dollars)Population (thousands)1965$743.7$3,976.7194,25019751,688.95,385.4215,89119854,346.77,593.8238,41619957,664.110,174.8266,458200513,093.714,234.2296,115201517,947.016,348.9321,601a. Why is real GDP greater than nominal GDP for all years until 2005 and lower for 2015 ?b. Calculate the percent change in real GDP from 1965 to...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate-inflation rate-Population...
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 caloulating this rate. However, the smplified equation is both 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 table below lists...
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...
Due Monday, January 21, 2019 1. Nominal and real GDP nying table shows data on nominal...
Due Monday, January 21, 2019 1. Nominal and real GDP nying table shows data on nominal GDP (in billions of dollars), real GDP (in bilions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP bitlions ofbitions of Population ollans2007 dollar) Chous $64.8 200.0 524.5 8570 $431.9 658.0 19 998 23 414 26 067 29 570 32 520 36 229 1976...
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
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 caloulating this rate. However, the smplified equation is both 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 table below lists...
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...
Due Monday, January 21, 2019 1. Nominal and real GDP nying table shows data on nominal GDP (in billions of dollars), real GDP (in bilions of 2007 dollars), and population (in thousands) of Canada in 1966, 1976, 1986, 1996, 2006, and 2016. The Canadian price level rose consistently over the period 1966-2016. Nominal GDP bitlions ofbitions of Population ollans2007 dollar) Chous $64.8 200.0 524.5 8570 $431.9 658.0 19 998 23 414 26 067 29 570 32 520 36 229 1976...
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