Chapter 11 Activity - Discussion: State GDPS per Capita 23 The table below lists for 2018 the five states with the highest real GDP per capita and the five states with the lowest real GDP per capita. The table shows each state's level of real GDP per capita and its growth rate of real GDP per capita in that year. (FYI: Take a look at the 2022 Per capita GDP by state here . Florida's position may surprise you!!) GDP per capita, 2018 GDP per capita growth State (2012 dollars) rate, 2018 New York $73,531 2.4% Massachusetts 72,635 2.1 Alaska 70,936 0.0 Connecticut 67,784 1.0 California 67,698 3.1 Mississippi 34,029 1.1 Arkansas 38,467 0.6 West Virginia 39,495 3.0 Idaho 39,843 2.0 South Carolina 39,883 0.4 Source: statista.com FOR YOUR INITIAL POST: 1. Based on the information in the table, do the highest-income states and the lowest-income states exhibit convergence or catch-up? 2. What additional data would you need to more accurately test whether the lowest-income states are catching un?

Chapter 11 Activity - Discussion: State GDPS per Capita 23 The table below lists for 2018 the five states with the highest real GDP per capita and the five states with the lowest real GDP per capita. The table shows each state's level of real GDP per capita and its growth rate of real GDP per capita in that year. (FYI: Take a look at the 2022 Per capita GDP by state here . Florida's position may surprise you!!) GDP per capita, 2018 GDP per capita growth State (2012 dollars) rate, 2018 New York $73,531 2.4% Massachusetts 72,635 2.1 Alaska 70,936 0.0 Connecticut 67,784 1.0 California 67,698 3.1 Mississippi 34,029 1.1 Arkansas 38,467 0.6 West Virginia 39,495 3.0 Idaho 39,843 2.0 South Carolina 39,883 0.4 Source: statista.com FOR YOUR INITIAL POST: 1. Based on the information in the table, do the highest-income states and the lowest-income states exhibit convergence or catch-up? 2. What additional data would you need to more accurately test whether the lowest-income states are catching un?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 3 What has been the average annual growth rate of U.S. real GDP per person over the 120 years from 1900 to 2020? In which decade, beginning with the 1960s, was the growth of potential GDP per person greatest and slowest? Over the 120 years from 1900 to 2020, the average annual growth rate of U.S. real GDP per person is 1.5 percent. That's incorrect. Over the 120 years from 1900 to 2020, the average annual growth rate of real GDP per person in the United States wasn't 1.5 percent.
This year, if two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Annual Real GDP Per Capita will go down if we assume no change in the real GDP figure between this year and last year.
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?
What is GDP? What is real GDP ? What is per capita GDP ? Why is our GDP shrinking in the ongoing Corona Virus Crisis? What is a clear indication that the GDP will be decreasing?
Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies. Economy Real Income per Person in 1960 Real Income per Person in 2010 Annual Growth Rate (Dollars) (Dollars) (Percent) Canada 12,946 35,810 2.06 United Kingdom 11,884 32,034 2.00 Korea 1,610 28,702 5.93 Hong Kong 4,518 44,070 4.66 Guatemala 1,985 3,859 1.34 Niger 945 570 -1.01 Indicate which economy…
Suppose a country has a real GDP per capita of $68,000 and grows at a constant rate for the next 36 years. How much larger (in percentage terms) is this country if its growth rate is 4.33% instead of 3.13% after 36 years of growth? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
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The table below describes the real GDP and population of a fictional country in 2017 and 2018. Population 2.0 million Year Real GDP 2017 $14 billion 2018 $15 billion 2.1 million Instructions: Round your answers to the nearest whole number. a. The real GDP per capita in 2017 is: The real GDP per capita in 2018 is: b. The growth rate of real GDP is: c. The growth rate in population is: d. The growth rate in real GDP per capita is:
question 1 Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What is New Zombie’s real GDP? If work hours increase to 210 in year 2 and productivity rises to $10 per hour, what is New Zombie’s rate of economic growth?
The table provides some data on real GDP and the population of Pacifica in 2018 and 2019. What is the economic growth rate in Pacifica in 2019? Real GDP Population (billions) Year (billions of dollars) What is the growth rate of Pacifica's standard of living in 2019? 2018 140,000 350 >>> Answer to 1 decimal place. 2019 154,508 361 The economic growth rate in Pacifica in 2019 is percent. The growth rate of Pacifica's standard of living in 2019 is percent. Enter your answer in each of the answer boxes. F12 F10 80 888 F4 F3 esc % de # %24 3 4 1 P E R Q tab K A caps lock C V shift command optic option command fn control I LL