a) Country A and Country B both start with a Real GDP of $100 billion. If Country A's Real GDP increases by 2% per year and Country B's Real GDP increases by 3% per year for the next 10 years, which country will have a higher Real GDP at the end of 10 years and by how much? b) Assume the same growth rate for each country's Real GDP as mentioned in part a) and that both Country A and Country B has a population of 10 million at start. If Country A's population decreases by 1% per year and Country B's population increases by 1% per year for the next 10 years, which country will have a higher per capita Real GDP at the end of 10 years and by how much?

a) Country A and Country B both start with a Real GDP of $100 billion. If Country A's Real GDP increases by 2% per year and Country B's Real GDP increases by 3% per year for the next 10 years, which country will have a higher Real GDP at the end of 10 years and by how much? b) Assume the same growth rate for each country's Real GDP as mentioned in part a) and that both Country A and Country B has a population of 10 million at start. If Country A's population decreases by 1% per year and Country B's population increases by 1% per year for the next 10 years, which country will have a higher per capita Real GDP at the end of 10 years and by how much?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please a and b both subparts answer please without plagiarism

a) Country A and Country B both start with a Real GDP of $100 billion. If Country A's Real
GDP increases by 2% per year and Country B's Real GDP increases by 3% per year for the next
10 years, which country will have a higher Real GDP at the end of 10 years and by how much?
b) Assume the same growth rate for each country's Real GDP as mentioned in part a) and that
both Country A and Country B has a population of 10 million at start. If Country A's population
decreases by 1% per year and Country B's population increases by 1% per year for the next 10
years, which country will have a higher per capita Real GDP at the end of 10 years and by how
much?

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