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a)ln the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in the USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and the USA in 1950 shown in the Madison table.

a)ln the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in the USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and the USA in 1950 shown in the Madison table.

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Question 2: World economic growth history a)ln the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in the USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and the USA in 1950 shown in the Madison table. b)Why did the average GDP growth rate declined in Western Europe during the period of 1913-1950 comparing to the period 1870- 1913. Start your answer by quoting the GDP growth rates (not GDP per capita growth rates) from the Madison table.
Transcribed Image Text:Question 2: World economic growth history a)ln the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in the USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and the USA in 1950 shown in the Madison table. b)Why did the average GDP growth rate declined in Western Europe during the period of 1913-1950 comparing to the period 1870- 1913. Start your answer by quoting the GDP growth rates (not GDP per capita growth rates) from the Madison table.
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