In 2009 GDP per capita in the United States was $41,099, whereas GDP per capita in...
From 2009 to 2010, per capita real GDP in the United States grew by 1.8%. Given that prices increased by 1% and the population grew by 1%, we know that nominal GDP grew by A) 4.8% B) 1.8% C) 2.8% D) 3.8% E) 5.8%
Assume that both Japan’s and the United States’ average annual per capita GDP growth rates are 2 percent per year, and both countries began with an initial per capita GDP of $1,000. However, the United States has been growing since 1910 and Japan only since 1960. In 2010, the United States would have been ________ than Japan. a. 2.69 times richer b. 4,555 times richer c. 0.37 times poorer d. 99 times richer e. 0.269 times poorer
Question 22 (3 points) Annual real per capita gross domestic product (GDP) in the United States was roughly $44,000 in 2010. If it grew by 3 percent the following year, by 2011 the annual real per capita GDP would be $45,320. $42,718. $57,200. $33,846.
GDP per capita in the United States was approximately $55,000 in 2015. Use the growth formula to answer the following questions: a. What will it be in the year 2020 if GDP per capita grows each year by 0 percent? GDP in 2020: b. What will it be in the year 2020 if GDP per capita grows each year by 2 percent? GDP in 2020: Growth Formula: (future value)-(present value)1 rMt present value this year's GDP per capita future value...
GDP per capita in the United States was approximately $55,000 in 2015 Use the growth formula to answer the following questions: a. What will it be in the year 2021 if GDP per capita grows each year by 1 percent? GDP in 2021: b. What will it be in the year 2021 if GDP per capita grows each year by 3 percent? GDP in 2021: Growth Formula: (future value) - (present value)*(1 + r)At present value this year's GDP per...
In 2016 GDP of the United States was $18 trillion, whereas that of China was $9 trillion. If China's growth rate of 7 percent per year is sustained and the US grows at 2 percent per year, when will China surpass the US in terms of GDP? (show calculations) 3
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...
Real per-capita GDP is higher in the United States than in Mexico. Based on that information, we can predict that the US has a higher rate of _______ and a lower rate of _______. Question 1 options: educational attainment; infant mortality cell-phone use; personal computer use educational attainment; doctors per-capita infant mortality; life expectancy internet users; automobile owners
Question 3 3. As discussed in Chapter 10, real GDP per capita in the United States grew from about $6,000 in 1900 to $50,010 in 2014, which represents an average annual growth rate of 1.9%. If the US economy continues to grow at this rate, how many years will it take for real GDP per capita to double from the 2014 number? If the economic growth rate was 2.2 rather than the historic 1.99 how many years will it take...
Suppose that in 1965 Japan had an initial per capita GDP of $12,000 per year and China had a per capita GDP of $5,000. But China is growing at 5 percent per year and Japan is growing at 3 percent per year. ________ would have been richer in 2015 with a per capita GDP of approximately ________. Japan; $5,000 Japan; $31,500 China; $7,500 China; $60,023 Not enough information is given. How to get the answer (2)?