a. b. C. d. Which country experienced the largest average rate of growth between 1995 and 2021? How did you determine this? Which country experienced the smallest average rate of growth between 1995 and 2021? How did you determine this? Recall that a one point difference in logarithms corresponds to roughly an increase by a factor of 2.72 in the variable. According to the data, log real GDP per capita for Lithuania rose by 1.307 log points between 1995 and 2021. From these two pieces of information, calculate the factor by which real GDP per capita in Lithuania grew between 1995 and 2021. Using the information provided in part c, find the average rate of growth of real GDP per capita in Lithuania between 1995 and 2021.

a. b. C. d. Which country experienced the largest average rate of growth between 1995 and 2021? How did you determine this? Which country experienced the smallest average rate of growth between 1995 and 2021? How did you determine this? Recall that a one point difference in logarithms corresponds to roughly an increase by a factor of 2.72 in the variable. According to the data, log real GDP per capita for Lithuania rose by 1.307 log points between 1995 and 2021. From these two pieces of information, calculate the factor by which real GDP per capita in Lithuania grew between 1995 and 2021. Using the information provided in part c, find the average rate of growth of real GDP per capita in Lithuania between 1995 and 2021.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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