5) Purpleland's Real GDP was 196 billion dollars in 2006 and 206 billion dollars in 2007. Purpleland's population growth rate was 2% in 2007. a. If Purpleland's 2007 economic growth rate and population growth rate are maintained, how long will it take for Purpleland's RGDP/capita to double? end ol b. If Purpleland's 2007 economic growth rate is maintained but the population growth rate falls to 1.5%, how long will it take for Purpleland's RGDP/capita to double?
5) Purpleland's Real GDP was 196 billion dollars in 2006 and 206 billion dollars in 2007. Purpleland's population growth rate was 2% in 2007. a. If Purpleland's 2007 economic growth rate and population growth rate are maintained, how long will it take for Purpleland's RGDP/capita to double? end ol b. If Purpleland's 2007 economic growth rate is maintained but the population growth rate falls to 1.5%, how long will it take for Purpleland's RGDP/capita to double?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 32P: In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million....
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![5) Purpleland's Real GDP was 196 billion dollars in 2006 and 206 billion dollars in 2007.
Purpleland's population growth rate was 2% in 2007.
a. If Purpleland's 2007 economic growth rate and population growth rate are
maintained, how long will it take for Purpleland's RGDP/capita to double?
menu Ineuo end of
b. If Purpleland's 2007 economic growth rate is maintained but the population growth
rate falls to 1.5%, how long will it take for Purpleland's RGDP/capita to double?
art](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F246908ac-4d3f-43db-a05b-93a5b6079774%2Fffc8ef37-1015-4cc8-9a5a-cbe320451a28%2Fqb84vp_processed.png&w=3840&q=75)
Transcribed Image Text:5) Purpleland's Real GDP was 196 billion dollars in 2006 and 206 billion dollars in 2007.
Purpleland's population growth rate was 2% in 2007.
a. If Purpleland's 2007 economic growth rate and population growth rate are
maintained, how long will it take for Purpleland's RGDP/capita to double?
menu Ineuo end of
b. If Purpleland's 2007 economic growth rate is maintained but the population growth
rate falls to 1.5%, how long will it take for Purpleland's RGDP/capita to double?
art
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