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If a country's real GDP per capita declines, this means that the following may have occurred:...
In a given year, if a country's GDP per capita decreases while total GDP is unchanged,...
In a given year, if a country's GDP per capita decreases while total GDP is unchanged, then the population of the country has: A. decreased Bremned the same C. increased D. All of the above E. None of the above
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...
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%, it will take how many additional years for that country to double its level of real GDP per capita? (Show Your Work)
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 2% instead of 3%
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 2% instead of 3%, it will take for that country to double its level of real GDP per capita. 30 additional years 11.7 additional years 35 fewer years 30 fewer years 35 additional years 23.3 additional years 23.3 fewer years 11.7 fewer years
Assume that a "leader country has real GDP per capita of $40,000, whereas a "follower 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?...
A country aims to double real GDP per capita in the next 7 years. This means...
A country aims to double real GDP per capita in the next 7 years. This means that on average real GDP per capita must grow at what rate per year? Enter a number rounded to two decimal places such as 2.34. Do not enter a percent sign.
What is most likely happening if a country s real GDP is rising, but its real GDP per capita is falling? -Its price leve...
What is most likely happening if a country s real GDP is rising, but its real GDP per capita is falling? -Its price level is growing faster than its output -Its output is growing faster than its price level -Its output is growing faster than its population-Its population is growing faster than its output
Which of the following things does Real GDP per Capital account for? Select one: a. Real...
Which of the following things does Real GDP per Capital account for? Select one: a. Real GDP per capita account for changes in environmental quality b. Real GDP per capita account for changes in the size of the population c. Real GDP per capita account for changes in longevity (how long people live) d. Real GDP per capita account for changes in violent crimes throughout the country e. Real GDP per Capita does not account for any of the things...
The information below describes the real GDP per capita for a country for the period from...
The information below describes the real GDP per capita for a
country for the period from 1985 through to 2001.
If a new business cycle began in 1985, how long was this
cycle?
In which year did the peak occur? The trough occurred in which
year?
How long was the expansion? How long was the recession?
Year 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Real GDP per Capita 6,000 6,300...
Answer True or False for each of the following. (3 points each) GDP per capita is...
Answer True or False for each of the following. (3 points each) GDP per capita is GDP divided by the population growth rate. Disposable personal income is what you have left over after paying basic living expenses. Net Domestic Product is Gross Domestic Product minus depreciation. Real GDP is always lower than nominal GDP. The GDP deflator is a good cost of living index. In the long run GDP tends to return to the vicinity of a long run growth...
In a given year, if a country's GDP per capita decreases while total GDP is unchanged, then the population of the country has: A. decreased Bremned the same C. increased D. All of the above E. None of the above
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...
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?...
The information below describes the real GDP per capita for a
country for the period from 1985 through to 2001.
If a new business cycle began in 1985, how long was this
cycle?
In which year did the peak occur? The trough occurred in which
year?
How long was the expansion? How long was the recession?
Year 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Real GDP per Capita 6,000 6,300...
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