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I just Put wrong option , that why i am editing Correct part will be ( E ) PART .Thanks
14) Suppose a country has a real GDP per capita of $2800 in 2010 and its...
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...
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...
Suppose a country wanted to increase the rate of growth of its per capita real GDP. It could do this by A.decreasing the growth rate of real GDP and decreasing the population growth rate. B.decreasing the growth rate of real GDP and increasing the population growth rate. C.increasing the growth rate of real GDP and increasing the population growth rate. D.increasing the growth rate of real GDP and decreasing the population growth rate.
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...
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.)
Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences no economic growth, while Country Baker grows at a sustained rate of 7 percent. In 12 years, Country Baker's GDP will be approximately ___________ that of Country Able. Question 14 options: 1) triple 2) double 3) one-half 4) one-fourth
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...
Assume that a "leader country has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country?...
(Table) According to the table, which country will double its real GDP per capita most quickly? Econia Macroland Noticia Zaria Real GDP per capita, current year $5,000 $8.000 $12.000 $15,000 Growth rate of real GDP per capita 10% 14% 1% 7% Nomicia Zaria Macroland Econia
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...