Question 1 Income per person exceeds $25,000 in many countries, but is below $1,000 per person...
Question 1
Income per person exceeds $25,000 in many countries, but is below $1,000 per person in many other countries. Based on the solow growth model, suggest at least three possible explanations for this gap in living standards.
Homework Answers
Based on solow growth model the difference in per capita income is due to following characteristics:
- High capital intensive economy leads to higher employment opportunities
- High labor intensive economy leads to higher supply of labor
- Higher rate of technology change leads to better productivity and hence higher disposable incomes
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Question 1
Income per person exceeds $25,000 in many countries, but is
below $1,000 per person...
3. The amount of education a person receives varies substantially among countries. Suppose you we...
3. The amount of education a person receives varies substantially among countries. Suppose you were to compare a country with a less educated labor force (with labor efficiency E1) and a country with a highly educated labor force (with labor efficiency E 2). Assume that education affects the level but not the growth of the efficiency of labor, that is E1
Link w DOC d. 16. nase 29. According to the Solow-Swan theory of long-run economic growth,...
Link w DOC d. 16. nase 29. According to the Solow-Swan theory of long-run economic growth, higher rates of saving for, equivalently, investment) lead to a higher income per person and higher consumption per person b. higher income per person and lower consumption per person c. higher income per person but not necessarily higher consumption per person d. higher consumption per person if the saving rate rises from an already high level and lower consumption per person if the saving...
Ε Haiti $810.00 Germany $57.990.00 45% Ecuador $6,000.00 23% lapan $38,880.00 12% Kenya $1,310.00 B 1...
Ε Haiti $810.00 Germany $57.990.00 45% Ecuador $6,000.00 23% lapan $38,880.00 12% Kenya $1,310.00 B 1 The World Bank World Development ihdicators 2 2015 Statistics Philippines 3 Gross National Income per Capita $3,520.00 4 Agricultural land (% of Land Area) 42% Current health expenditure (% of 5 GDP) Current health expenditure per capita $126.90 6 (current USS) Educational attainment, at least Bachelor's or equivalent, population n/a 7 25+, total (%) (cumulative) 7% 115 9% 11% 5% $53.60 $4,591.80 $530.10 $3,732.60...
Table 1 Assumez- 12 1 if in Poverty, Poverty Poverty Gap Person i Income 0 Otherwise...
Table 1 Assumez- 12 1 if in Poverty, Poverty Poverty Gap Person i Income 0 Otherwise Squared 81 49 16 1 0 0 Gap Ada Ben Chris 3 Dan Emma 515 18 0 0 0 0 Fiona Question 2 1 pts Based on Table 1, what is the sample variance of income? 33.60 37.10 30.70 35.40 Question 3 1 pts Based on Table 1, what is the share of people living in poverty? 0 4 o 2/3 o 1/2 D...
11. Approximately what is the ratio of per capita income in North America and that in...
11. Approximately what is the ratio of per capita income in North America and that in East Asia (see fig. 1.11)? Between North America and South Asia? 95% TABLE 1.1 Quality-of-Life Indicators LEAST-DEVELOPED MOST-DEVELOPED COUNTRIES COUNTRIES GDP/Person (US$1671 (US$35,768 Poverty Index 781% 0 Life Expectancy 58 years 80 years Adult Literacy 58% 99% Female Secondary 11% Education Total Fertility Infant Mortality 120 Improved Sanitation 23% 100% Improved Water 616 100% co/capita 02 tons 13 tons ANNUAL gross domestic product 2PERCENT...
1. Economic growth around the world The following table reports real income per person for several...
1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The...
1. Economic growth around the world The following table reports real income per person for several...
1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income ir person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The...
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1...
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1 a. Graph the Lorenz Curve for the table above. (If it helps to be more precise than the table: the Lorenz curve has a slope of 0.05 from 0 to 0.5 of the income distribution, a slope of 0.1 from 0.5 to 0.8 on the income distribution, and a slope of 0.2 from 0.8 to 1 on the income distribution) b. Calculate the Gini...
Please complete question 1, parts A,B, and C. Use formulas and graphs to answer the problems!...
Please complete question 1, parts A,B, and C. Use formulas and
graphs to answer the problems! Please show all work, and use the
formulas for the equations.
AutoSave OFF OF HW2P2 - Compatibility Mode - Saved to my Mac a Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Times New... v v 12 A A Aa A. 215 AakbCelld Ankl DdE A RICcDdE ABCDde AaBbCcDc Aabb Dee Heading 1 Normal Na Spacing Hercing 2 Title...
INSTRUCTIONS TO CANDIDATES Attempt Question ONE and any Other one (1) Question QUESTION ONE 120 Marks!...
INSTRUCTIONS TO CANDIDATES Attempt Question ONE and any Other one (1) Question QUESTION ONE 120 Marks! a) Discuss brietly why macroeconomists work with aggregate variahles and explain the arguments they use to defend their position. Do you find these arguments reasonable? [3 b) Justify why GDP per worker should be preferred to GDP per capita in compuring living c) One of the main questions that growth economics addresses is whether poor countries are i) With the aid of appropriate diagrams...
3. The amount of education a person receives varies substantially among countries. Suppose you were to compare a country with a less educated labor force (with labor efficiency E1) and a country with a highly educated labor force (with labor efficiency E 2). Assume that education affects the level but not the growth of the efficiency of labor, that is E1
Link w DOC d. 16. nase 29. According to the Solow-Swan theory of long-run economic growth, higher rates of saving for, equivalently, investment) lead to a higher income per person and higher consumption per person b. higher income per person and lower consumption per person c. higher income per person but not necessarily higher consumption per person d. higher consumption per person if the saving rate rises from an already high level and lower consumption per person if the saving...
Ε Haiti $810.00 Germany $57.990.00 45% Ecuador $6,000.00 23% lapan $38,880.00 12% Kenya $1,310.00 B 1 The World Bank World Development ihdicators 2 2015 Statistics Philippines 3 Gross National Income per Capita $3,520.00 4 Agricultural land (% of Land Area) 42% Current health expenditure (% of 5 GDP) Current health expenditure per capita $126.90 6 (current USS) Educational attainment, at least Bachelor's or equivalent, population n/a 7 25+, total (%) (cumulative) 7% 115 9% 11% 5% $53.60 $4,591.80 $530.10 $3,732.60...
Table 1 Assumez- 12 1 if in Poverty, Poverty Poverty Gap Person i Income 0 Otherwise Squared 81 49 16 1 0 0 Gap Ada Ben Chris 3 Dan Emma 515 18 0 0 0 0 Fiona Question 2 1 pts Based on Table 1, what is the sample variance of income? 33.60 37.10 30.70 35.40 Question 3 1 pts Based on Table 1, what is the share of people living in poverty? 0 4 o 2/3 o 1/2 D...
11. Approximately what is the ratio of per capita income in North America and that in East Asia (see fig. 1.11)? Between North America and South Asia? 95% TABLE 1.1 Quality-of-Life Indicators LEAST-DEVELOPED MOST-DEVELOPED COUNTRIES COUNTRIES GDP/Person (US$1671 (US$35,768 Poverty Index 781% 0 Life Expectancy 58 years 80 years Adult Literacy 58% 99% Female Secondary 11% Education Total Fertility Infant Mortality 120 Improved Sanitation 23% 100% Improved Water 616 100% co/capita 02 tons 13 tons ANNUAL gross domestic product 2PERCENT...
1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The...
1. Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income ir person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The...
2. Gini Index Income Decile Income Share 0.05 0.1 0.15 0.2 0.25 0.35 un 0.45 1 a. Graph the Lorenz Curve for the table above. (If it helps to be more precise than the table: the Lorenz curve has a slope of 0.05 from 0 to 0.5 of the income distribution, a slope of 0.1 from 0.5 to 0.8 on the income distribution, and a slope of 0.2 from 0.8 to 1 on the income distribution) b. Calculate the Gini...
Please complete question 1, parts A,B, and C. Use formulas and
graphs to answer the problems! Please show all work, and use the
formulas for the equations.
AutoSave OFF OF HW2P2 - Compatibility Mode - Saved to my Mac a Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Times New... v v 12 A A Aa A. 215 AakbCelld Ankl DdE A RICcDdE ABCDde AaBbCcDc Aabb Dee Heading 1 Normal Na Spacing Hercing 2 Title...
INSTRUCTIONS TO CANDIDATES Attempt Question ONE and any Other one (1) Question QUESTION ONE 120 Marks! a) Discuss brietly why macroeconomists work with aggregate variahles and explain the arguments they use to defend their position. Do you find these arguments reasonable? [3 b) Justify why GDP per worker should be preferred to GDP per capita in compuring living c) One of the main questions that growth economics addresses is whether poor countries are i) With the aid of appropriate diagrams...
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