4. The table below presents macroeconomic data for two nations: Raljon and Kabukistan. Raljon Kabukistan Nominal...
4. The table below presents macroeconomic data for two nations: Raljon and Kabukistan.
|
Raljon |
Kabukistan |
|
|
Nominal GDP growth |
26% |
6% |
|
Inflation |
20% |
3% |
|
Unemployment rate |
4% |
10% |
|
Population growth |
5% |
1% |
Assume that both nations start with real GDP of $1,000 per citizen. Fill in the blanks in the table below, assuming the data above applied for every year considered.
|
Raljon |
Kabukistan |
|
|
Real GDP growth rate per person |
||
|
Years required for real GDP per person to double |
||
|
Real per person GDP in 140 years |
Homework Answers
|
Raljon |
Kabukistan |
|
|
Real GDP growth rate per person |
26-20-5 =1% | 6-3-1 = 2% |
|
Years required for real GDP per person to double |
70/1 =70 | 70/2 = 35 |
|
Real per person GDP in 140 years |
4000 | 16000 |
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4. The table below presents macroeconomic data for two nations:
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