County A & Country B both recorded an increase in real GDP of 5% per year from 1970 to 2005. During this time, the population of country A grew at 7% per year & the population for Country B grew at 3%. Which of the following is true during this period?   a. Per capita GDP was the same for both Country A & Country B   b. Per capita GDP decreased for Country B only   c. Per capita GDP decreased for both Country A & Country B   d. Per capital GDP decreased for Country A only

Q: The table below gives economic data for the small island economy of St. Artie's. All data was…

A: Given Values for 2017 :- GDP deflator = 100 Nominal GDP = 2,000,000 Real GDP = Nominal GDP/ GDP…

Q: GDP of $1,000 in 1965. By 2015, per capita GDP would have been ________ in Mexico and ________ in…

A: To find the future value of any growing entity with a constant rate we use compounding formula -…

Q: 1. China has a greater GDP value than Canada. Their national GDP is currently 2nd in the world. Why…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: Country Able and Country Baker initially have the same real GDP per capita. Country Able experiences…

A: Here we will use the future value formula in case of compound interest rate. Which is given as…

Q: Suppose the following data for the Governments 2010 - 2019 state of economy 2019 2010 Population…

A: Population growth is defined as the enhancement  in the number of people in the population or…

Q: that in 1965 Japan had an initial per capita GDP of $12,000 per year and China had an initial per…

A: In 1965: Per capita GDP of Japan = $12,000 Per capita GDP of China = $5000   Growth rates: Japan =…

Q: In 2001, Minitown had a GDP of $293000 and a population of 1600.What was the GDP per capita in…

A: Given:  In 2001, Minitown had a GDP of $293000 Population of 1600. GDP per capita in Minitown in…

Q: answer question D

A: Answer to part D is as follows :

Q: Year Real GDP 2009 2010 $8 billion $10 billion Population 1.0 million 1.2 million Instructions:…

A: Real GDP per capita in 2009 will be: Real GDP per capita in 2009=Real GDP of 2009Population in…

Q: 1. If real GDP per capita in the United States is $10,000, what will real GDP per capita in the…

A: Real GDP per capita in US = $10,000Real GDP per capita growth rate is 2.9% per year. Required: Real…

Q: 1. In the last century, Tunisia's Gross Domestic Product (GDP) has grown rapidly on average 5% per…

A: The basic growth rate formula that will help to solve this kind of problem Xt+n=Xt1+gn Where g is…

Q: The remote island of Aquamotor Reef produces only cars and fish. The table gives the quantities…

A: The real economic growth rate, also called real GDP growth rate, determines economic growth, as…

Q: Suppose that real GDP is summarized by y- AK(HN)1-a, where A is TFP, K is capital, H is average…

A: GDP calculates the total value of all final goods and services produced in an economy.

Q: dollars

A: The catch up growth is also known as theory of convergence . According to this theory , the poor or…

Q: In the last century, Tunisia’s Gross Domestic Product (GDP) has grown rapidly on average 5% per…

A: The Gross Domestic Product (GDP) measures the market value of all the final goods and services…

Q: In 1990, Pakistan's total nominal GDP was $44.0 billion. In 2010, total nominal GDP had increased to…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

Q: Suppose a country's real GDP is $18 trillion and the population is 300 million. Instructions: Enter…

A: Real gross domestic product is a macroeconomic measure of the value of economic output adjusted for…

Q: Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What…

A: Productivity is a measure of how effectively commodities or services are produced. Productivity is…

Q: Suppose that work hours in New Zombie are 300 in year 1, and productivity is $14 per hour worked.…

A: Real GDP = total value of final goods and services domestically produced in a year calculated at…

Q: Two countries with similar geographies, cultures, and institutions are likely to have... O…

A: GDP refers to the production of goods and services during an accounting year.

Q: + Real GDP (Billion of 2000 dollars) Year 2002 $8,700 2003 8,875 2004 9,000 2005 9,280 6. Refer to…

A: The objective of the question is to calculate the growth rate of real GDP from 2004 to 2005 and the…

Q: Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5000. However,…

A: The term "gross domestic product" (GDP) refers to the production of goods and services at a specific…

Q: QUESTION 10 onsider the scenario given in the table below for two economies, Economy X and Economy…

A: According to the information provided above : Production function : Y = A*KakN Change in Capital :…

Q: Select one or more: a. The trend growth rate over the period was around 2.14 % per annum. b. The…

A: The linear growth straight line shows a constant level of growth per year. if the actual growth…

Q: Over the last 60 years or so, Korea has been one of the most successful economies in the world. What…

A: Given: Year GDP Per Capita Population Capital Labour Education 1960 1,224.79 24.749 208,509.8…

Q: 1. Why is China still poor in per capita terms despite having the second-largest economy in the…

A: The question of China's per capita income being lower despite having the second-largest economy in…

Q: + Real GDP (Billion of 2000 dollars) Year 2002 $8,700 2003 8,875 2004 9,000 2005 9,280 6. Refer to…

A: The first part of the question is asking for the area that represents consumer surplus after the…

Q: a.Explain in detail, what we could do to avoid each of those 5 factors causing our GDP growth rates…

A: a) The factor that leads to Fall in GDP are as follows:Fall in Aggregate demand: The fall in…

Q: The table below shows output for the country of Copernicus. Compute the nominal GDP. GDP data…

A: GDP is the market value of final goods and services produced by an economy under its domestic…

Q: Which of the following statements is FALSE? 1. Labor productivity and the percentage of people…

A: Labor productivity refers to the amount of output produced or the value of the production by each…

Q: To the surprise of many, Georgia's growth over the past decade has been evenly distributed between…

A: The growth of an economy refers to an increase in the production of goods and services within a…

Q: “In 2022, India’s GDP was $3,386.4 billion whereas its GNP was $3,370.15 billion”.    The reason for…

A: The objective of the question is to understand the difference between Gross Domestic Product (GDP)…

Q: Richland's real GDP per person is $30,000, and Poorland's real GDP per person is $15,000. However,…

A: GDP refers that production of goods and services at a point of time within a boundary of a country ,…

Q: Chapter 11 Activity - Discussion: State GDPS per Capita 23 The table below lists for 2018 the five…

A: Here we have to analyze the highest-income states and the lowest-income states exhibit convergence…

Q: The table shows the real GDP and population information for three years for the country of Alta.…

A: From the table, we can see that the Real GDP in year 1 is $2,000 and in year 2 is $2,080.

Q: Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its population was 150…

A: GDP(gross domestic product) per capita is obtained by dividing the GDP by population. It is useful…

Q: 14. Country A has a GDP of $400,000, and country B has a GDP of $100,000. The standard of living in…

A: GDP is the value of all final goods and services in the economy in a given year produced within the…

Q: 1. GDP per capita and quality of life The following table lists gross domestic product (GDP) and…

A: Step 1:Gross Domestic Product (GDP) per capita is a measure of the average economic output per…

Q: You are going to compare and contrast the GDP of the United States to that of another country of…

A: Country2022 GDP (nominal, trillions of US dollars)2021 GDP (nominal, trillions of US dollars)2020…

Q: According to the table, Canada has the eleventh-highest GDP among the countries with the largest…

A: Answer -  By  using the table given in the question -" GDP per capita is the gdp divided by…

Q: Between 1970 and 2005, China’s GDP per capita grew at an average rate of 7.3% per year while GDP…

A: GDP per capita is an economic metric to ascertain the economic output per person. It is an indicator…

Q: 1 of 10 In 1980, Denmark had a GDP of $70 billion (measured in U S. dollars) and a population of 5.1…

A: here we can find the GDP per capita rise by following method

Q: Growth rate of Nominal GDP from year 2019 to year 2020 is ______%.

A: Nominal GDP is the GDP calculated using current Year prices and current year quantity. nominal GDP =…

Q: Average Average Countr 1820 1870 1920 1970 2010 growth growth (1820- (1920- 2010) 2010) United 1.65…

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

Q: From the World's Largest Economies 2016 visual, we can conclude which of the following to be the…

A: GDP refers to the gross domestic product which is the measurement of all the final commodities and…

Q: 5. The real GDP per person in Brazil was $828 in 1900 and $15,590 in 2014. What was the average…

A: Using log, the annual growth rate of real gdp (RGDP) per capita is given by,…