4. You have been hired to forecast future population level for a small country. You know that this country currently has 15 million citizens and wishes to achieve a population level twice the current population, 50 years from now. (a) What population growth rate must it maintain in order to achieve this goal? (b) What if this country chooses a goal of 36 million people? What population growth rate would that require?

4. You have been hired to forecast future population level for a small country. You know that this country currently has 15 million citizens and wishes to achieve a population level twice the current population, 50 years from now. (a) What population growth rate must it maintain in order to achieve this goal? (b) What if this country chooses a goal of 36 million people? What population growth rate would that require?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 2.4P

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Similar questions

List the areas where government policy can help economic growth.
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2. You are a manager at a large shampoo company and on the search for future markets. You identified two low income countries that look very dynamic: Country A has a GDP/capita growth rate of -1% and population growth rate of 9%. Country B has a GDP/capita growth rate of 7% and constant population. (a) Discuss which country you should focus on for your expansion. (b) Discuss if your answer would change if the products you are trying to sell are cars.
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1. Growth experiences Small differences in the rate of economic growth can lead to large differences in living standards. Consider two countries: Upper Richistan and Lower Richistan. Currently, real GDP per person (average income) is $55,000 in Upper Richistan and $13,750 in Lower Richistan. Suppose you want to project what the real GDP per person will be in each country 100 years from now. The following formula shows how to compute the average income in ŉ years, where g represents the growth rate of real GDP per person (in decimal form-that is, 1.2% is entered as 0.012): Average Income in n Years = Current Average Income × (1 + g)' n Use the growth formula to find the correct amounts to select to fill in the following table. Growth Rate Average Income after 100 Years (Percent) (Dollars) 1.2 1.6 4 4.3 Suppose Upper Richistan's growth rate is expected to grow at 1.2% and remain there for the next 100 years. Which of the following growth rates in Lower Richistan would cause the average…
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If X grows at a rate of 9% a year, and Y grows at a rate of 14 percent per year, what is the growth rate of X/Y? a. 23% b. -5% c. 5% d. (9/14) % A nation’s population is growing 5% per year, and its total GDP is growing 1% per year. What is the annual rate of growth of GDP per capita? Feel free to round to the nearest percentage point:.
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