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Impact of Covid-19 pandemic on a Country and its Economy
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- The real GDP per person in a country A has grown about 4 percent per year. When this country' GDP will be double?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?1. What measures can the poorer countries take to accelerate their growth to bring their standards of living more in line with the rest of the world?
- 1)Consider a nation in which the volume of goods and services is growing by 5 percent per year. a. If a country’s economic size is growing faster than the rest of the world, then the share of the world’s goods and services that are produced in this country will fall. other countries will also have similar rates of growth. this country will gain influence in the international sector. the balance of trade will worsen. b. If a country’s living standards are increasing at 5 percent, this implies that prices are decreasing at a rate of 5 percent below the population growth. output is increasing at a rate of 5 percent above the population growth. output is increasing at a rate of 5 percent below the population growth. prices are increasing at a rate of 5 percent above the population growth.16.How has modern transport and communications helped poor countries grow compared to, say, the 1500s? a.Good and services are now cheaper to produce. b.lt is easier for the poor to move to wealthy countries. c.lt is easier for gold to flow between countries. d.Good ideas can spread more easily and rapidly.1. What metrics can help analyze the economic environment of a country?
- Cririca/ Thinking Many developed countries, includingthe U.S., have in recent decades become primarily service economies; that is, there is relatively little manufacturing of goods, and most people in the economy are employed by service industries. Why do you thinkthis has occurred? In what ways is this trend a goodand/or a bad thing for a country? Do you think thistrend will continue?A policy that increases saving a. will worsen economic growth, but improve health outcomes. b. will worsen economic growth and health outcomes. c. will improve economic growth, but worsen health outcomes. d. will improve economic growth and health outcomes.A nation's balance of payments can be affected by A. the country's population increases relative to other nations' populations. B. the country's inflation rate relative to other nations' inflation rates. C. per capita GDP relative to other nations' per capita GDP. D. none of the above.
- In the figure below match each (*) letter with the appropriate term(s) in the drop down menu. B BUSINESS SECTOR 'N A. (Click to select) B. (Click to select) C N A .C *D F -L •M •H *FINANCIAL INTERMEDIARIES ‒‒ K .E O1. Japan’s real GDP was 525 trillion yen in 2009 and 535 trillion yen in 2010. Japan’s population was 127.6 million in 2009 and 127.5 million in 2010. Calculate a. The economic growth rate. b. The growth rate of real GDP per person. c. The approximate number of years it takes for real GDP per person in Japan to double if the real GDP economic growth rate returns to 3 percent a year and the population growth rate is maintained.GRAPH SETTINGS Reset Country-X Initial Value ($50 – $10,000) 1,000.00 Value (thousands of dollars) [Country-X = Country-Y] Growth Rate: 3% 10 0.1% 10.0% 8 Country-Y 7 Initial Value 2,000.00 ($50 – $10,000) 5 4 Growth Rate: 1% 0.1% 10.0% 2 1 35.4 уrs. E CALCULATIONS 0 5 10 15 20 25 30 35 40 Years Value in Country-X Country-Y 10 years $1,343.92 $2,209.24 20 years $1,806.11 $2,440.38 30 years $2,427.26 $2,695.70 Country-X Country-Y Instructions: Modify the settings in the interactive tool as needed to answer the questions below. Suppose countries X and Y each produce $2,000 of goods and services per year. Country X experiences 2% growth per year, while country Y experiences 4% growth per year. a) What is Country X's production after 20 years? $[ b) What is country Y's production after 20 years? c) If two amounts are initially equal but one grows twice as fast (ex: 2% growth versus 4% growth), the amount that grows faster will have increased by (Click to select) V twice as much.