1. In the last century, Tunisia's Gross Domestic Product (GDP) has grown rapidly on average 5% per annum. However, due to political, economic and geopolitical unrest faced, the economic situation of the country has been affected since 2009. GDP per capita in 2009 was USD4130. While in 2017, GD per Tunisian per capita is USD3491. Calculate the answer to the following question: a) In a situation that remains the same, how many years will Tunisia be able t doubling the per capita GDP that was achieved in 2009? b) If Tunisia continues to enjoy growth at a rate of 5% a year since 2009, what is the per capita income in 2018? c) Compared to Tunisia, Malaysia's GDP per capita is USD9945 for 2017. What is the average growth rate that Tunisia should maintain since in 2009, if the country wants to achieve a GDP per capita in line with Malaysia?

1. In the last century, Tunisia's Gross Domestic Product (GDP) has grown rapidly on average 5% per annum. However, due to political, economic and geopolitical unrest faced, the economic situation of the country has been affected since 2009. GDP per capita in 2009 was USD4130. While in 2017, GD per Tunisian per capita is USD3491. Calculate the answer to the following question: a) In a situation that remains the same, how many years will Tunisia be able t doubling the per capita GDP that was achieved in 2009? b) If Tunisia continues to enjoy growth at a rate of 5% a year since 2009, what is the per capita income in 2018? c) Compared to Tunisia, Malaysia's GDP per capita is USD9945 for 2017. What is the average growth rate that Tunisia should maintain since in 2009, if the country wants to achieve a GDP per capita in line with Malaysia?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

According to the Bureau of Economic Analysis, the GDP Deflator for the 3rd Quarter 2021 is +5.7%. The U.S. Bureau of Labor Statistics reported the Consumer Price Index (CPI) as rising 5.4 percent over the last 12 months, not seasonally adjusted. Given this information: 1) Interpret these data and summarize its meaning. 2) What are these data measuring? 3) If you were a business economist, which would you use and why?
Consider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 515.0 207.0 Longhornland 2805 173 Dinkytown 287.00 1.900 Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place. $ B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place. $.
The following table shows the U.S. gross domestic product (GDP) G, in trillions of dollars, as a function of the year t. t = Year 2004 2010 2014 G = GDP(trillions of dollars) 11.87 14.66 17.42 (a) Explain in practical terms what G(2010) means. The expression G(2010) is the year when the U.S. gross domestic product had a value of 11.87 trillion dollars.The expression G(2010) is the gross domestic product in trillions of dollars, multiplied by 2010. The expression G(2010) is the average of G(2004) and G(2010).The expression G(2010) is the U.S. gross domestic product in trillions of dollars in the year 2010. Find G(2010).$ trillion(b) Use functional notation to express the gross domestic product in 2012, and estimate that value. (Round the estimated value to two decimal places.) G = $ trillion(c) What is the average yearly rate of change in G from 2010 to 2014? (Round your answer to two decimal places.)$ trillion(d) Use your answer from part (c) to…
A nation's real GDP was $250 billion in Year 1 and $265 billion in Year 2. Its population was 120 million in Year 1 and 125 million in Year 2. What is its real GDP growth rate in Year 2? Multiple Choice 15.0 percent 6.0 percent 5.7 percent 1.1 percent
In May 2013, the value of the Consumer Price Index (CPI) in a certain country, Polonia, reached an all-time high of 228 index points and per capita nominal GDP was $48 comma 500. In January 1950, the CPI was at its lowest at 46 index points. Per capita nominal GDP in 1950 was $8 comma 000. Calculate real GDP per capita for 1950 by converting that year's nominal GDP per capita into current (2013) dollars. For 1950, real GDP per capita (in 2013 dollars) was
7. If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it take, in years, to double the standard of living in the country as measured by economists? (Round your answer to include 2 decimal places.)
Which of the following will be counted in the Gross Domestic Product for this year (2023)? A) A new 2023 Ford Escape that was just produced in Detroit during January 2023 and was recently sold to a consumer. B) A Ford Escape that was produced in Detroit during January 2023 and was ready for sale, but hasn't been sold yet. C) Each of the scenarios listed above would all count as U.S. GDP. D) A new 2023 Ford Escape that is manufactured within the borders of the U.S.
The following table reports real GDP 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 GDP per person in the Central African Republic was $1,010 in 1960, and it actually declined to $628 by 2010. The Central African Republic's average annual growth rate during this period was -0.95%, and it was the poorest economy in the table in the year 2010. The real GDP-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.
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 Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies. Economy Real Income per Person in 1960 (Dollars) Real Income per Person in 2010 (Dollars) Annual Growth Rate (Percent) Austria 9,773 35,031 2.59 Venezuela 7,307 9,762 0.58 Botswana 468 9,515 6.21 Malaysia 1,624 11,863 4.06 Honduras 1,932 3,146 0.98 Zambia 1,412 1,309 -0.15 Indicate which economy satisfies each of the following…
In 2012, nominal GDP per capita in the US was $49.922. In Colombia, nominal GDP per capita was $7,855 the same year. Calculate the PPP-adjusted GDP for Colombia if the purchasing power of a given amount of dollars was 41% lower in the U.S. PPP-adjusted GDP Colombia $ (Round off to two decimal places)
The following table shows real GDP per capita for the United States, South Korea, and Chad between 1970 and 2000. All figures are in 1998 U.S. dollars. (image inserted) The (decade-long) economic growth rate for the United States is shown in the second column. For example, from 1970 to 1980, the United States GDP grew from $18,395 to $22,666, an increase of ($22,666−$18,395)/($18,395)=23%. Use this method to fill in the growth rates for South Korea and Chad in the previous table. Enter the growth rates to the nearest whole percentage point. Compare the data for the United States and South Korea between 1970 and 1980. During this period, (South Korea OR The United States) had a higher level of real GDP per capita, while (South Korea OR The United States) experienced a higher growth rate in real GDP per capita. Convergence theory predicts that poor countries will grow more quickly than rich countries. Which one of the following is a reason for this? Rich…
9. Compute the Human Development Index (HDI) in a country with a life expectancy of 80 years, mean years of schooling, 12 expected years of schooling and a GNI per capita of $19,000. Round your answer to three decimal places (i.e. enter your answer as 0.523...not the correct answer, by the way!) As a reference, here are the "goalposts" set by the UN for the HDI: Worst Case Best Case Variable 20 years 85 years Life Expectancy 18 years О years Expected Years of Schooling Mean Years of Schooling O years 15 years $100 $75,000 GNI per capita (PPP)