An emerging country has a real GDP of $1532.8 billion. After one year, real GDP has grown to $1.640 x 103³ billion..percentage terms, what is the growth rate? Please round your answer to the nearest whole number.Macmillan Learninggrowth rate:de

The GDP growth rate is the increase in the GDP of a country over a specific period, usually…

An emerging country has a real GDP of $1532.8 billion. After one year, real GDP has grown to $1.640 x 10³ billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. Macmillan Learning growth rate: de

An emerging country has a real GDP of $1532.8 billion. After one year, real GDP has grown to $1.640 x 10³ billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. Macmillan Learning growth rate: de

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: If a country's initial real GDP is $48,861 and its yearly growth rate of GDP is 1.6%, use the Rule…

A: GDP is the gross domestic product. GDP is the market value of all final goods and services produced…

Q: Assess one (1) problem associated with using gross domestic product as an indicator of economic…

A: The gross domestic product(GDP) of an economy is defined as the market value of all the final…

Q: forecast about the average GDP growth for the next 3 years (2021-2023)? Explain and justify. So…

A: A macroeconomic examination thoroughly assesses an economy's financial status. It recognizes…

Q: Let's assume that in a South American country, the nominal GDP went down by 1%, while, the price…

A: GDP is the value of final goods and services produced in the economy in an economic year.

Q: How can an increase in government spending boost economic growth and reduce unemployment in South…

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in…

Q: How do I calculate average percent growth of Real Per Capita GDP using FRED database for years…

A: The growth rate refers to the rate at which a variable changes in percentage terms from period to…

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: Developing country needs FDI to promote its own economic growth. Do you agree or disagree? What…

A: A) Becsuse FDI and economic development are positively depending on each other. Accordingly, Yes…

Q: In 1950, the real per capita GDP (in USD) in Mauritius is 4,382, and in 2017 the figure is 20,631.…

A: "GDP (gross domestic product) measures the value of all finished goods and services produced within…

Q: Real GDP per capita increases by 9% in the first year and by 5% in the second. After 2 years, what…

A: We assume that the real GDP per capita in Year 0 is $100 After one year in Year 1 our GDP increases…

Q: TRUE OR FALSE: Population growth in high-income countries is higher than in low-income countries.

A: Concepts: A higher income country is a natiom with higher per capita income. It implies a higher…

Q: Civil Conflict = 0.27 - 0.38GDP Growth Rate compute the change in the probability of a country…

A: We are going to find out the change in probability of Civic conflict with respect to the change in…

Q: Please explain the effect of public expenditure on economic growth?

A: According to the given question In simple words we can say that a public expenditure is an…

Q: An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534…

Q: if people in it in poverished nation are faced with life and death survival decisions what is the…

A: Economic growth: It refers to the development of the economy. The economic growth shows that the…

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: The growth rate of nominal GDP in 2019 is percent.

A: Nominal GDP is the value of all goods and services in an economy at the current price.

Q: What is the impact of productivity growth on a nation's inflation rate or level

A: Inflation rate: It means a general rise in the price level in an economy over a period of time.

Q: Using the growth rates for countries over the past 20 years, as shown in the figure below, is there…

A: Approach to solving the question:Examine the Growth Rates: Examine the growth rates shown in the…

Q: Tremendous decline has been observed in GDP growth rate of pakistan.explain reasons

A: The economy of Pakistan has observed a major decline in the GDP growth rate of the economy, because…

Q: In today's world, abundant natural resources are more likely to hinder a country's growth than to…

A: Assessing the effect of abundant natural resources on a country's economic growth requires…

Q: Write down the growth accounting equation. Explain each component briefly.

A: Growth accounting explains the different factors contribution towards the growth. Change in the…

Q: What are the fluctuations in Ghana economic growth from 2018 to 2021?

A: Economic Growth A rise in the production of economic goods and services is characterized as economic…

Q: Determine the number of years it will take for the standard of living to double in each country.…

A: The Rule of 72 can be described as the simple mathematical formula that is used to calculate the…

Q: Interpret the gnp growth rate of the philippines over the years and explain its implication.

A: The value of all commodities and services generated by a country's citizens and enterprises is…

Q: Are remittances has a positive or negative correlation with economic growth? If YES, Why? If NO,…

A: Remittance refers to a payment of money that is transferred from one party to another party. in a…

Q: Modern economics growth was made possible by

A: The definition's three components are all critical. Economic growth can be characterised as a…

Q: If Real GDP is $22 million in 1995 and $132 million in 2005, what is the economic growth rate?…

A: We could solve this with the help of formula

Q: Calculate the GDP growth rate between 1BFNA output and 1AFNA output: Your answer should be in…

A: GDP Growth Rate Formula:GDP Growth Rate = ((1AFNA output - 1BFNA output) / 1BFNA output) * 100%Step…

Q: How GCC countries can avoid negative economic growth?

A: GCC countries will prevent negative growth by growing oil production in order to satisfy the high…

Q: Analyse the link between finance and economic growth.

A: Economic Growth Economic growth basically refers to an increase in the value of a country's goods…

Q: Q. 4 can someone help me to describe this line chart with include discussion on the relationship…

A: The relationship between the FDI and the growth would result in one of the major component of the…

Q: South Africa's economic growth rate in 2018 was percent. percent. The growth rate of real GDP per…

A: Economic growth rate: Economic growth rate is the percentage of the value of the real gross…

Q: Cite an example of how governments can affect economic growth.

A: Economic growth is the process through which the final commodities and services produced by the…

Q: In class, we learned that saving and investment in physical capital increase the capital per worker…

A: As per the guidelines we are allowed to answer the first question only. Please post the remaining…

Q: Economic growth

A: Economic generally agreed that economic development and growth are influenced by four factors:-…

Q: Identify one developed and one developing country. Research their recent economic growth rates.…

A: Consider a developed country United States of America and a developing country India. Economic…

Q: how does endogenous growth theory explain economic growth

A: Neoclassical growth model: - Neoclassical growth model was first given by Robert Solow and Trevor…

Q: Are remittances has a positive or negative correlation with economic growth? If YES, Why? If NO,…

A: Remittance is the income which worker settled in aboard send to their families in their home…

Q: As an economist, what role do you see of markets in facilitating economic development? What are the…

A: Financial-markets and institutions provide an opportunity where the savers can invest their money in…

Q: An economy starts off with a GDP per capita of $ 13,500. In 10 years, GDP per capita is $19,400.…

A: Gross domestic product is the final combination of goods and services in a country. GDP is an…

Q: Why might the Coronavirus pandemic cause slowed economic growth?

A: Economic growth is influenced by economic variables that have direct or indirect relationship with…

Q: If a country has a per capita GDP of $5,200 and it grows at a 6% annual rate. How long will it take,…

A: Per capita GDP measured the standard of living of a country. Per capita GDP is $5200 Annual growth…

Q: in a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2…

A: Given:Real GDP per capita growth rate = 3.8 percent Inflation rate = 2 percentPopulation growth rate…

Question

An emerging country has a real GDP of $1532.8 billion. After one year, real GDP has grown to $1.640 x 103³ billion..
percentage terms, what is the growth rate? Please round your answer to the nearest whole number.
Macmillan Learning
growth rate:
de

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Defining GDP Growth Rate

VIEW

Step 2: Finding the growth rate.

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Correct answer with proper explanation.
Calculate the average annual growth rate using the information in the table below. Round to two decimal places. Year Growth rate 2017 3.2% 2018 2.7% 2019 0.5% 2020 1.8%
Define the term Compound Growth?
Understanding of growth is important because it means that the country wants to grow in which region and then can formulate its policies accordingly.
What are three policies governments can use to promote economic growth? And how effective would they be ?
An increase in the standard of living of citizens of a country can be best measured by the growth rate of per capita nominal GDP nominal GDP real GDP per capita real GDP
How does endogenous growth theories provide a greater understanding of the process of economic growth?
If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it take, in years, to double the standard of living in the country as measured by economists? (Round your answer to include 2 decimal places.)
Explain the different ways in which inequality can affect growth. Highlight any existing empirical evidence that you find interesting. Why?
In 2020, the GDP was approximately $20 trillion. If GDP is expected to double in 20 years, what is the expected growth rate per year?
How is a steady state level of capital determined mathematically? Can use graphs to aid in explanation if possible
In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in U.S. dollars). India was also one of the world’s fastest-growing economies, with an annual growth rate of real GDP of 7.3%. a. If the country maintains the same growth rate, how many years will it take for India’s GDP to double? b. Bangladesh’s GDP was $286.27 billion, but its growth rate was equal to India’s. How many years will it take for Bangladesh’s economy to double? c. Although Bangladesh and India have the same annual growth rate, their economies are much different in size. How can you explain the size difference to someone who is unfamiliar with scaling large numbers? Which strategies would you use?