Assume we have two economies. Economy A has a level of GDP per capita of Ya(0) which is higher than Yb(0) but it is growing at a yearly rate of ga which is lower than that of B, gb. Q: Use the rules of the logs to find an expression in terms of Ya(0), Yb(0), ga, and gb for the period, t*, where the poor economy catches up with the rich economy, i.e. when GDP per capita in both economies coincide. Show your derivations.<

Assume we have two economies. Economy A has a level of GDP per capita of Ya(0) which is higher than Yb(0) but it is growing at a yearly rate of ga which is lower than that of B, gb. Q: Use the rules of the logs to find an expression in terms of Ya(0), Yb(0), ga, and gb for the period, t*, where the poor economy catches up with the rich economy, i.e. when GDP per capita in both economies coincide. Show your derivations.<

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

See similar textbooks

Similar questions

9. Compute the Human Development Index (HDI) in a country with a life expectancy of 80 years, mean years of schooling, 12 expected years of schooling and a GNI per capita of $19,000. Round your answer to three decimal places (i.e. enter your answer as 0.523...not the correct answer, by the way!) As a reference, here are the "goalposts" set by the UN for the HDI: Worst Case Best Case Variable 20 years 85 years Life Expectancy 18 years О years Expected Years of Schooling Mean Years of Schooling O years 15 years $100 $75,000 GNI per capita (PPP)
How do you see the trade-off between the economy and theenvironment? Which is more important? Is it possible toimprove both at the same time? Explain.
120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
worn out in the production process. ment Now IzMe: Section 2.7 uge your comprehension of this section. To begin, please click the wnward arrow located at the top right of this box. Assignment Score: 0.00% Submit Assignment for Grading Save ns tu2et10h_Ch02_Sec07.02m « Question 2 of 3 » Check My Work Three different economies have made choices about the production of capital goods. Which of the following is most likely to produce the greatest growth in the production possibilities curve (PPC)? O a. Less production of capital goods than what is needed to replace worn-out capital. Ob. Capital goods produced at the exact rate needed to replace worn-out capital. c. More production of consumption goods that replace worn-out capital. O d. Greater production of capital goods than what is needed to replace worn-out capital. MacBook Air DD F6 EZ F8 F9 F10 F11 F12 & * 6 7 8 { P + 000
As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
Are there other ways in which we can measure productivity besides the amount produced per hour of work?
Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…
YIN CN Next question Suppose that the production function is given by Y- 05VR N 454 where Y is output, Kis capital, and N is the number of workers 4 Suppose that 60 05 With your favonte spreadsheet software, compute steady-state output per worker and steady-state consumption per worker for s 0, 801, a02, s1 Graph the steady-state level of output per worker and the steady-state level of consumption per worker as a function of the saving rate 25 1) Using the multipoint curve drawing tool, drawa curve showing the relationship between YIN and the saving rate. Properly label your curve 15 2) Using the multipoint curve drawing tool, draw a curve showing the relationship between CIN and the saving rate. Properly label your curve 0.5 Although the control ponts for your multpownt curves do not have to be exact try to plot them as accurately as possible 01 02 03 a'4 os o6 07 os 09 Saving rate, At what saving rates are YIN and CIN maximized? After plotting the final point of your multipoint curve…
Compute the Human Development Index (HDI) in a country with a life expectancy of 80 years, 9 mean years of schooling, 12 expected years of schooling and a GNI per capita of $19,000. Round your answer to three decimal places (i.e. enter your answer as 0.523.not the correct answer, by the way!) As a reference, here are the "goalposts" set by the UN for the HDI: Variable Life Expectancy Expected Years of Schooling Mean Years of Schooling GNI per capita (PPP) Worst Case Best Case 20 years 85 years O years O years 18 years 15 years $100 $75,000
2 (2) WhatsApp Answered: Suppose there b Search results for 'betweer x between the years 2000 an x translate inggris - Penelusu x + O X A web.whatsapp.com Update H economics A st. Go to the wn the list of rith the fastest the forecast rates between the Nations. Fill in the column for the real GDP for each years 2000 and 2016 for India from the United year. Nominal per contents at Year cap GDP GDP Deflator Real GDP here are articles aragraph or two conditions in one 2000 430.7277284 57.36678064 2001 437.0571735 56.29168237 2002 449.2611259 56.71696401 growing or not 2003 517.4687782 61.28959225 2004 616.0236666 68.47409723 2005 709.7680483 73.34417561 e of the European outliers, the red lower growth tern Europe. Go > look at real GDP 4) in the data? Can the news why 2006 790.9944417 75.97529403 2007 991.3467178 88.04073962 2008 1048.161005 90.92663843 2009 1068.62321 86.677581 2010 1340.910324 100 2011 1500.853109 106.3463115 ing hember states? 5:50 PM tates in Eastern 2012 1473.301818…