24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select threecountries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies todouble, assuming their growth rates remain constant.Section 12.1exhibit 3Real per Capita GDP (Selected Countries, 1997-2016)COUNTRYAVERAGE ANNUAL % GROWTHChina8.55India5.35Bangladesh4.15Indonesia2.64Pakistan1.76Canada1.44United Kingdom1.43United States1.38Germany1.33Spain1.31Mexico1.23Argentina1.22Brazil1.16France0.99Japan0.69Italy0.15BOURCE Wond Bank

Economic growth means how economy's GDp is Growing annually . It's a quantitative measures to…

24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select three countries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies to double, assuming their growth rates remain constant. Section 12.1 Real per Capita GDP (Selected Countries, 1997-2016) exhibit 3 COUNTRY AVERAGE ANNUAL % GROWTH China 8.55 India 5.35 Bangladesh 4.15 Indonesia 2.64 Pakistan 1.76 Canada 1.44 United Kingdom 1.43 United States 1.38 Germany 1.33 Spain 1.31 Mexico 1.23 Argentina 1.22 Brazil 1.16 France 0.99 Japan 0.69 Italy 0.15 SOURCE Wond Bark

24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select three countries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies to double, assuming their growth rates remain constant. Section 12.1 Real per Capita GDP (Selected Countries, 1997-2016) exhibit 3 COUNTRY AVERAGE ANNUAL % GROWTH China 8.55 India 5.35 Bangladesh 4.15 Indonesia 2.64 Pakistan 1.76 Canada 1.44 United Kingdom 1.43 United States 1.38 Germany 1.33 Spain 1.31 Mexico 1.23 Argentina 1.22 Brazil 1.16 France 0.99 Japan 0.69 Italy 0.15 SOURCE Wond Bark

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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