Answer the question based on the table below.Year Nominal GDP (in millions) GDP Deflator Real GDP Real GDP Growth Rate Population DGP19884506530000198947069310001990500713200019915507333000What is the Real GDP growth rate in 1990? (round it to the nearest million)5.1%3.4%6.3%4.7%

For calculating Real GDP Growth rate in 1990, we must have the information of the following:Real GDP…

Answered: Answer the question based on the table…

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 8SQP

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Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: â€¢ GDP in constant international dollars or PPP â€¢ Population â€¢ GOP per person in constant international dollars â€¢ Mortality rate, infant (per 1,000 live births) â€¢ Health expenditure per capita (current U.S. dollars) â€¢ Life expectancy at birth, total (years)
Why might per capita GDP be only an imperfect measure of a countrys standard of living?
Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa Rica has a GDP of 9 billion (measured in U.S. dollars) and a population of 4 million. Calculate the per capita GDP for each country and identify which one is higher.
Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.
Why do you think it is difficult for high-income countries to achieve high growth rates?
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita? What about a middle-income country such as Brazil? A low-income country such as Niger?
What are the advantages of backwardness for economic growth?
Why is investing in girls education beneficial for growth?
Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?
How might you measure a green GDP?
Why do you think that GDP does not grow at a steady rate, but rather speeds up and slows down?

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