What do you think is the biggest reason poor countries are not catching up with rich...
What do you think is the biggest reason poor countries are not catching up with rich countries in terms of wealth or GDP per capita?
Homework Answers
Developing countries are growing slower and have low level of wealth or GDP per capita relative to developed countries. Following are reasons:
- Low level of Saving and investment.
- High Population Growth rate.
These two factors hinder the growth rate in developing countries, These developing countries need to increase saving rate and lower population growth rate to catch up with developed countries.
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What do you think is the biggest reason poor countries are not catching up with rich...
The idea that countries poor in capital may grow faster than countries rich in capital and...
The idea that countries poor in capital may grow faster than countries rich in capital and eventually reach similar levels of GDP per capita is? convergence hypothesis uniform standard of living hypothesis steady-state equilbrium economic development
Do you think rich countries should take more responsibility than poor countries and provide technologies and...
Do you think rich countries should take more responsibility than poor countries and provide technologies and funds to help them improve basic living standard by increasing their productivity efficiently so that they would reduce destruction of the rainforests and pollution emission?
33. The "Catch-Up effect" refers to: a. a situation where poor countries will never grow faster...
33. The "Catch-Up effect" refers to: a. a situation where poor countries will never grow faster than rich countries because they can never "catch up" in terms of economic production. b. when an economy is sitting in a trough, economic activity will eventually increase and an increase in productivity will result. c. the difference between real GDP and nominal GDP. d. a situation where poor countries tend to grow more rapidly than rich countries. e. when an economy just starts...
Why do people in some countries become rich while citizens in others remain poor? You might...
Why do people in some countries become rich while citizens in others remain poor? You might think the reasons for such a contrast is that some countries are well endowed with natural resources, such as, timber, energy, and fertile land, etc. Natural resources will answer only part of the answer. Take for example countries like Switzerland and Luxembourg, these countries have very little natural resources but decade after decade their citizens real income increase at a rapid pace. Another example,...
3. Do you think GDP is a good measurement for our standard of living? Why or...
3. Do you think GDP is a good measurement for our standard of living? Why or why not? 4. What do you think the biggest challenge to economic growth? How can wealthier nations help poor countries raise their standard of living? Be brief and concise.
In the country of Poor, GDP per capita at purchasing power parity is $40.000. In the...
In the country of Poor, GDP per capita at purchasing power parity is $40.000. In the country of Rich GDP per capita at purchasing power party is $60,000. What is NOT a reason someone might want to live in Poor instead of Rich? Select one: O a. It's possible that in the country of Rich, a few people have most of the money. If that was true, then most people might actually be ablevo buy more goods and services in...
What factors explain why many low-income countries are not catching up with high-income countries? Question 23...
What factors explain why many low-income countries are not catching up with high-income countries? Question 23 options: Failure to enforce the rule of law. Private property rights. Wars and revolutions. Poor education and health systems. Low rates of saving and investment. An independent court system. Central banks. The incentive to make money.
Growth Rate South Korea Real GDP per capita Growth Rate Year 1970 1980 Growth Rate Canada...
Growth Rate South Korea Real GDP per capita Growth Rate Year 1970 1980 Growth Rate Canada Real GDP per capita $12,717 $16,731 Uganda Real GDP per capita $190 $1,886 $3,262 $182 $176 1990 $19,540 $23,156 $6,615 $10,80% 2000 Source: Organisation for Economic Cooperation and Development (OECD) The (decade-long) economic growth rate for Canada is shown in the second column. For example, from 1970 to 1980, Canada GDP grew from $12,717 to $16,731, an increase of Sie 512717 1711-512.717 32 Use...
The U.S. has great disparity between the poor and rich, especially when compared to other industrialized...
The U.S. has great disparity between the poor and rich, especially when compared to other industrialized countries. What do you envision for the future? Is education the answer to greater income and wealth? Can people change their social class? Does our comfortable style of life depend on keeping some people poor? What would happen if the "dirty work" suddenly cost two or three times as much to get it done?
The real GDP per capita in US is higher than almost all other countries in the...
The real GDP per capita in US is higher than almost all other countries in the world. What do you think may be some major reasons for the US GDP per capita to be higher?
33. The "Catch-Up effect" refers to: a. a situation where poor countries will never grow faster than rich countries because they can never "catch up" in terms of economic production. b. when an economy is sitting in a trough, economic activity will eventually increase and an increase in productivity will result. c. the difference between real GDP and nominal GDP. d. a situation where poor countries tend to grow more rapidly than rich countries. e. when an economy just starts...
In the country of Poor, GDP per capita at purchasing power parity is $40.000. In the country of Rich GDP per capita at purchasing power party is $60,000. What is NOT a reason someone might want to live in Poor instead of Rich? Select one: O a. It's possible that in the country of Rich, a few people have most of the money. If that was true, then most people might actually be ablevo buy more goods and services in...
Growth Rate South Korea Real GDP per capita Growth Rate Year 1970 1980 Growth Rate Canada Real GDP per capita $12,717 $16,731 Uganda Real GDP per capita $190 $1,886 $3,262 $182 $176 1990 $19,540 $23,156 $6,615 $10,80% 2000 Source: Organisation for Economic Cooperation and Development (OECD) The (decade-long) economic growth rate for Canada is shown in the second column. For example, from 1970 to 1980, Canada GDP grew from $12,717 to $16,731, an increase of Sie 512717 1711-512.717 32 Use...
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