a) Use the following information todetermine whether there is evidence ofrelative converge, absolute convergence, orboth.GDP per GDP percapita in2013Country capita in2005FraggleRockU.S.A$54,000 $70,000$35,000 $52,000b) True or False? If there is absoluteconvergence, then there is relativeconvergence as well.

The objective of the question is to determine whether there is evidence of relative convergence,…

Answered: a) Use the following information to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Suppose the u.s. nominal GDP increases from one year to the next year. Can you conclude that these figures present a misleading measure of economic growth?
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In a rich country A, the gross domestic product 1 per person is r = 53,000 (US dollars). In a poor country B, the GDP per person is p = 7,000. Suppose that the GDP of country A grows by 5% per year, and that an economic miracle in country B begins to propel a growth of 9% per year. Assume these growth rates are constant. 1) Over how many years does the absolute difference in GDP between rich country A and poor country B increase? 2) How many years does it take for the GDP of country B to exceed that of country A? (Justify your answers.)
Country D and Country E both recorded an increase in real GDP of 4 percent per year from 1997 to 2012. During this time, the population for Country D grew at 3 percent per year and the population for Country E grew at 2 percent. Which of the following is true during this period? Multiple Choice Per capita GDP decreased for Country E only. Per capita GDP increased for both Country D and Country E. Per capita GDP decreased for both Country D and Country E. Per capita GDP increased for Country D only.
“Since 1980, aggregate per capita GDP in sub-Saharan Africa has declined at almost 1 percent per annum. The decline has been widespread: 32 countries are poorer now than in 1980. Today, sub-Saharan Africa is the lowest-income region in the world...It is clear that Africa has suffered a chronic failure of economic growth. The problem for analysis is to determine the causes” (Collier and Gunning 1999: ‘Why has Africa grown slowly?’). Explain the possible reasons why sub-Saharan Africa grew so slowly from 1980- 1999?
Region Real GDP per capita (2010) Average annual growth rate of real GDP per capita for 2010-2080 Country A $750 2% Country B $1,500 5% Use the information in the table above to answer the following question. Would the case of Country A and Country B be a good example if you want to show that the convergence hypothesis holds? Why or why not? Use the rule of 70 and Country A-to-Country B ratio of real GDP per capita in 2010 and 2080 to support your answer.
Question A.1 Consider the following data for a country called "Weightonia": Year 1 Year 2 Real GDP (year 1 prices) Real GDP (year 2 prices) $400 $460 $530 $600 Compute Real GDP in year 2 in "Weightonia" by applying the Chain-Weighting approach. Use year 1 as the reference year.
How can you explain that the per capita GDP has been almost multiplied by three from 1820 to 1913 but it increased only by 60% in the Ottoman Empire?
Given the following natinonal data all figure in billion. Gross domestic product.............6145 Payments to Tanzania who empoly resources......126 Payments to foreign owned resources employed in Tanzania...........177 Capital consumption allowance.......... 661 Indirect business taxes and subsidies.......579 Government transfer payment............... 884 Undistributed corporate profit and corporate income tax....................... ....561 Individual taxes and non tax payments..................655 Compute 1.Gross national product at market price 2.Net national product at market price 3.personal income 4.Disposable income
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