An IAC (industrially advanced country) had a per capita income of $44,000, while a DVC (developing country) had a per capita income of $2,200 in agiven year. If both countries experience a per-capita-income growth of 2 percent, then the per-capita-income gap one year later will beMultiple ChoiceO$636$41,800.$46,200.$42,636

Per capita income is the total income divided by country's population.It is an important economic…

Answered: An IAC (industrially advanced country)…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Developing countries with low savings rates , high levels of regulations and poor levels of health and education are like to have easy access to loans low rates of growth in real GDP per capita high levels of foreign private investment rapid growth in household incomes
Population size is no guarantee for economic prosperity. However, developing countries that have low per capita income represents a rewarding market for global trade because of their .......? A) technology B) political stability C) huge populations D) infrastructure
Which of the following is NOT a primary obstacle to economic growth for economically challenged countries? Question 3 options: Smaller populations to foster economic growth compared to high-income countries Lack of a stable government to effectively implement and oversee growth policies Lack of economic stability Lack of market-oriented institutions to support economic growth
Why should Americans be concerned about extreme poverty in other nations? How does the globalized economy impede or promote poverty reduction? Would global economic growth still be desirable if it widened inequalities but reduced poverty? Why or why not?
This is not a writing assignment, this is a multiple-choice question Which would NOT AGREE to be effective or well-directed economic development strategies to alleviate global poverty? Group of answer choices Most of the difference between the huge success of East Asia and the relatively poor performance of South Asia, sub-Saharan Africa, and Latin America can be explained by the differences in their government policies. Traditional aid projects to the less developed economies have been inflexible and ineffective. The primary stumbling block to development in poor countries has been the bad advice they received from the rich countries.
Growth in GDP per capita is an important measure of economic prosperity because it corrects for differences in participation rates. True or False
There are three sets of economic growth through increases in technology. Describe how those three steps operate to gradually improve the benefits of developing countries.
What is the average income and poverty rate in urban areas of developing countries, and how do these compare to rural areas within the same countries? Additionally, what factors contribute to income inequality and poverty, and what policies can be implemented to address these issues?
In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem. Is it possible that there could be growth of per capita income without the achievement of these other objectives?

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