1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annualrate of 1.6%. Assume that it continues to grow at this rate.Compute the doubling time.а.b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).2.Suppose a country's population grows at the rate of 2% per year and its output grows at the rate of3% per year.а.Calculate its rate of growth of per capita output.b. If instead its population grows at 3% per year and its output grows at 2% per year, calculate its rateof growth of per capita output.3. Suppose an increase in air pollution causes capital to wear out more rapidly, doubling the rate ofdepreciation. How would this affect economic growth?

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1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annual rate of 1.6%. Assume that it continues to grow at this rate. a. Compute the doubling time. b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).

1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annual rate of 1.6%. Assume that it continues to grow at this rate. a. Compute the doubling time. b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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