YearAGODMA1970391134001971405535291972396938871973418243451974419643611975387744831976357645121977351243871978321949011979312141721980309543311981295550231982289353461983283256221984303558001985299159281986250865651987277868711988257372561989264071281990269977181991242472551992270381081993226683781994238982011995234383361996305482651997277179801998280288211999285489222000227486342001219782642002241283052003243479392004278981872005336481292006411587412007435492442008501499082009397998702010540910005201168291008820126919992320136779983320146383102102015529899612016511310155201750059115 The data set on the right contains the real per capita GDP for 2countries from the Penn World Table (PWT) version 9.1(Feenstra et al., 2015). The column names are the countrycodes, AGO and DMA. You may copy the dataset to Excel or R todo the computations.Download the data (CSV)a. What is the real per capita GDP for each country in 1970.AGO: NumberDMA: Numberb. What is the average growth rate of each country between1970 and 2017? Calculate the growth rate of each yearusing the exact formula and take the average of all rates.Express your answers in percentage rounded to thenearest first decimal.AGO: NumberDMA:Numberc. Based on the results of the previous questions, are thetwo countries converging to each other?ConvergingNot converging

Given that: real per capita GDP data for the two countries. AGO and DMA are the country codes. (a)…

Answered: a. What is the real per capita GDP for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Year	AGO	DMA
1970	3911	3400
1971	4055	3529
1972	3969	3887
1973	4182	4345
1974	4196	4361
1975	3877	4483
1976	3576	4512
1977	3512	4387
1978	3219	4901
1979	3121	4172
1980	3095	4331
1981	2955	5023
1982	2893	5346
1983	2832	5622
1984	3035	5800
1985	2991	5928
1986	2508	6565
1987	2778	6871
1988	2573	7256
1989	2640	7128
1990	2699	7718
1991	2424	7255
1992	2703	8108
1993	2266	8378
1994	2389	8201
1995	2343	8336
1996	3054	8265
1997	2771	7980
1998	2802	8821
1999	2854	8922
2000	2274	8634
2001	2197	8264
2002	2412	8305
2003	2434	7939
2004	2789	8187
2005	3364	8129
2006	4115	8741
2007	4354	9244
2008	5014	9908
2009	3979	9870
2010	5409	10005
2011	6829	10088
2012	6919	9923
2013	6779	9833
2014	6383	10210
2015	5298	9961
2016	5113	10155
2017	5005	9115

The data set on the right contains the real per capita GDP for 2
countries from the Penn World Table (PWT) version 9.1
(Feenstra et al., 2015). The column names are the country
codes, AGO and DMA. You may copy the dataset to Excel or R to
do the computations.
Download the data (CSV)
a. What is the real per capita GDP for each country in 1970.
AGO: Number
DMA: Number
b. What is the average growth rate of each country between
1970 and 2017? Calculate the growth rate of each year
using the exact formula and take the average of all rates.
Express your answers in percentage rounded to the
nearest first decimal.
AGO: Number
DMA:
Number
c. Based on the results of the previous questions, are the
two countries converging to each other?
Converging
Not converging

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