The following table shows the GDP per capita since 1820 in selectedcountries (in PPP-adjusted 2005 dollars).1. Identify the countries that experienced sustained growth between 1820and 2010. Averagegrowth(1820-2010)1.65Averagegrowth(1920-2010)1.91Countr18201870 192019702010yUnited$1,873 $3,365 $7,641 $20,684 $41,961StatespercentpercentUnited1.291.85Kingdo $2,854 $4,390 $6,259 $14,817 $32,722percentpercentm1.373.02China$826$729 $760 $1,071 $11,054percent1.33percent1.62Mexico $863$896 $2,509 $5,945 $10,619percentpercent

Growth of every country from 1820 to 2010 has been shown in the table below..

Average Average Countr 1820 1870 1920 1970 2010 growth growth (1820- (1920- 2010) 2010) United 1.65 1.91 $1,873 $3,365 $7,641 $20,684 $41,961 States percent percent United 1.29 1.85 Kingdo $2,854 $4,390 $6,259 $14,817 $32,722 percent percent 1.37 3.02 China $826 $729 $760 $1,071 $11,054 percent 1.33 percent 1.62 Mexico $863 $896 $2,509 $5,945 $10,619 percent percent

Average Average Countr 1820 1870 1920 1970 2010 growth growth (1820- (1920- 2010) 2010) United 1.65 1.91 $1,873 $3,365 $7,641 $20,684 $41,961 States percent percent United 1.29 1.85 Kingdo $2,854 $4,390 $6,259 $14,817 $32,722 percent percent 1.37 3.02 China $826 $729 $760 $1,071 $11,054 percent 1.33 percent 1.62 Mexico $863 $896 $2,509 $5,945 $10,619 percent percent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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