Answered: 3. A country had real GDP per person of…

3. A country had real GDP per person of 5000 in 2005 and 5152 after 15 years. What was the average real GDP growth over those next 15 years?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 12E

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• A country had real GDP per person
of 5000 in 2005 and 5152 after
15 years. What was the average
real GDP growth over those next
15 years?

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Don't give AI solution A country had real GDP per peria of 5800 in 2005 and has had average real GDP growth of 8.4 %per wear, over the next 15 years, What is real GDP - at the end of that period?
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The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
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