Per Capita GDP Economy A Economy B GDP: 400000 442200 GDP: 100000 &nb
Per Capita GDP
|
Economy A |
Economy B |
|
GDP: 400000 442200 |
GDP: 100000 124000 |
|
Population: 8 8.04 |
Population: 20 24 |
1.Which economy grew?
2.Which economy grew more in $?
3.Which economy grew more in %?
4.Which has more people?
5.Which population grew?
6.Which population grew more in percent?
7.Which added more people?
8.Which has more per capita?
9.Which grew in per capita terms?
10.Which grew more in $ per capita?
11.Which grew more in % per capita?
12.Which is happier?
Homework Answers
1. As the GDP of both nation A and B rose hence both economies grew in size.
2. Change in GDP for nation A: 442200 - 400000 = 42200
Change in GDP for nation B: 124000- 100000= 24000
Change in GDP for nation A is greater then Change in GDP for nation B
3. % Change in GDP for nation A; 42200/400000 = 10.55 %
% Change in GDP for nation B; 24000/100000 = 24 %
Hence % Change in GDP for nation B is greater then % Change in GDP for nation A
Add Answer to:
Per Capita GDP
Economy A
Economy B
GDP:
400000 442200
GDP:
100000 &nb
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8. Per capita GDP in the long run: Suppose an economy begins in steady state. By...
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5-7 QUESTION 5 I nominal GDP grew 9 percent last year and the population have not...
5-7
QUESTION 5 I nominal GDP grew 9 percent last year and the population have not changed and inflation rate was 4 percent, then real GDP per capita grew by percent. 2.25 13 QUESTION 6 -20 + 4/w), where w is the wage per Suppose a firm's labor demand equation is L-28-21w), and the labor supply equation that it froos is, hour worked. The government imposes a minimum wage equal to 10. As a result unemployment will not change increase...
Which of the following suggest that real per capita GDP is not a perfect measure of...
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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...
Real GDP per capita in the country of Arcadia grew from about $4,240 in 1900 to...
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(51)Suppose the GDP per capita of Bolivia was equal to US$650 and its GDP was equal...
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8. Per capita GDP in the long run: Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in response to each of the following changes? (a) The investment rate doubles. (b) The depreciation rate falls by 10%. (c) The productivity level rises by 10%. (d) An earthquake destroys 75% of the capital stock. (e) A more generous immigration policy leads the population to double.
5-7
QUESTION 5 I nominal GDP grew 9 percent last year and the population have not changed and inflation rate was 4 percent, then real GDP per capita grew by percent. 2.25 13 QUESTION 6 -20 + 4/w), where w is the wage per Suppose a firm's labor demand equation is L-28-21w), and the labor supply equation that it froos is, hour worked. The government imposes a minimum wage equal to 10. As a result unemployment will not change increase...
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...
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