Question 10 2 pts Consider the country of Scott-opolis. This country has a real GDP of...
Question 4 2 pts Suppose we have the country of Nydia-opolis. Further suppose that for the year 2020 we have the following information: . Government in Nydia-opolis spends $100,000,000 on food and cars produced in Nydia-opolis in 2020 • Firms in Nydia-opolis spend $5,000,000 on equipment made in Nydia-opolis in 2020 • People in Nydia-opolis spend $10,000,000 on uniforms produced in Randy-stan in 2020 • People in Randy-stan spend $10,000,000 on goods produced in Nydia-opolis in 2019 • People in...
Question 9 2 pts Suppose there is a very small country called Micro-opolis. It makes only two goods: cell phones and pears. Their prices and quantities are the following: Price of pears Quantity of pears Price of cell phones Quantity of cell phones 2019 $2 100 $200 100 2020 $2.50 110 $225 110 2021 $3 148.5 $250 148.5 If 2019 is the base year, what is the growth in real GDP from 2020 to 2021? 9.1% 31.8% 35% 45% Not...
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...
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?...
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
According to the "Rule of 70", how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%? A. less than 1 year B. 35 years C. 5 years D. 14 years
Duwuring that time, it would take about 1400 years for income per person to double None of the above Question 9 2 pts Suppose there is a very small country called Micro-opolis. It makes only two goods: cell phones and pears. Their prices and quantities are the following: Price of pears Quantity of pears Price of cell phones Quantity of cell phones 2019 $2 100 $200 100 2020 $2.50 110 $225 110 2021 $3 148.5 $250 148.5 If 20 is...
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
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)