In year 2012, the size of an economy is equal to $15 trillion; in 2013, it increases to $16.5 trillion. If the economy maintains the same growth rate in the future, how long will it take in total to grow from $15 trillion to $30 trillion according to “the rule of 72”?

Q: Calculate the quarter-over-quarter percentage change in GDP for the last four quarters:…

A: GDP refers to the value of all final goods and services produced in an economy over a given period…

Q: If a country's initial real GDP is $48,861 and its yearly growth rate of GDP is 1.6%, use the Rule…

A: GDP is the gross domestic product.  GDP is the market value of all final goods and services produced…

Q: The following table gives real GDP figures for an economy for four years. Fill in the growth rate…

A: Growth rate: The growth rate is the percentage change in a variable over a specific period.Average…

Q: Why do we measure economic growth using Real GDP rather than Nominal GDP

A: Real GDP, It is  the total value of goods and services produced Within a political boundary of a…

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A: There are two countries - Babylonia & Yuan  Babylonia grows at 7 % Yuan grows at 5%  Production…

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A: Real GDP in 2019 = $500,000 Labor hired in 2019 = 5,000 Labor productivity in 2019 will be given as…

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: True/ False.  Real GDP is a better indicator of economic growth than nominal GDP.

A: GDP stands for gross domestic product which means the total market value of final goods produced…

Q: If real GDP was $9,950 billion in Year 2008 and $10,270 billion in Year 2009. What was the rate of…

A: Growth means an increase in real GDP in such a manner that productivity increases and it causes an…

Q: Use some of the information below to calculate an economy's 2022-2023 economic growth rate. 2022…

A: Economic growth is the increase in production of goods and services in an economy. The percentage…

Q: If Real GDP is $22 million in 1995 and $132 million in 2005, what is the economic growth rate?…

A: We could solve this with the help of formula

Q: Given the data table below: Year 2015 2016 2017 2018 2019 2020 2. GDP Deflator, Real GDP, 2015-100…

A: Here, the given data provided information about the GDP deflator and real GDP in different years…

Q: ?Question 2.10: Calculate Growth Rate of Real Per Capita GDP Now suppose there are more goods and…

A: Step 1: Real GDP Per Capita:The average economic production per person, adjusted for inflation, is…

Q: Q. 4 can someone help me to describe this line chart with include discussion on the relationship…

A: The relationship between the FDI and the growth would result in one of the major component of the…

Q: Singapore​'s real GDP was 412 billion dollars in 2016 and 429 billion dollars in 2017. The…

A: Economic growth rate: The percentage change in a  country's real Gross Domestic Product from one…

Q: 7. China's trend growth rate of real GDP per person was 2.2 percent a year before 1980 and 8.7…

A: Real GDP per person is an economic parameter that highlights the total amount of goods and services…

Q: In 2014, the GDP of Russia was $5500. Suppose that Russia has a growth rate of 3.4%. a. What is…

A: a. The GDP is the summation of the money value of all the final goods and services produced within…

Q: 4) Real GDP in 1998 was 9066.9 Billion, and real GDP in 1999 was 9470.3 Billion. According to the…

A: Real GDP in 1998 =  9066.9 Billion Real GDP in 1999 = 9470.3 Billion

Q: You work for a pharmaceutical multinational enterprise (MNE) that sells flu shots, which re…

A: 4) The data shows that the firm needs a large population or large scale to be viable than…

Q: Nominal GDP of country B grows from $30 billion to $33 billion between 2020 and 2021. Between 2020…

A: A government's nominal GDP is determined using price levels and is not indexed to inflation. Compare…

Q: In 2017, the GDP of Canada was $8800. Suppose that Canada has a growth rate of 3.2%. a. What is…

A: The GDP refers to the price value of all final goods and services produced annually in a country.…

Q: If real GDP grows at an annual 1.5%, then at approximately wh Round to one decimal place.

A: Real GDP per capita is the ratio of the real GDP of an economy with respect to the population. The…

Q: "In 2022, India's GDP was $3, 386.4 billion whereas its GNP was $3, 370.15 billion". Why should…

A: GDP refers to the total monetary value of all final goods and services that a nation produces in…

Q: Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting…

A: Answer to the question is as follows :

Q: Year Real GDP Nominal GDP 2019 $15,292.67 $17,081.38 2020 $17,822.90 $18,350.11 2021 $18,521.37…

A: GDP growth refers to an increase in a country's GDP over a certain period of time. GDP expansion…

Q: Suppose the 50% of the income generated by an economy is paid to workers, thus implying that the…

A: 50% of the income generated by an economy is paid to workers. It means labor share of income is 0.5…

Q: 4) if GDP doubles in 15 years, what must be the average annual rate of growth? (Use the precise…

A: For a particular national economy, the yearly average rate of change in the gross domestic product…

Q: A small economy only produces two goods: steak and potatoes. This information is shown in the table.…

A: GDP or gross domestic product is the sum of the value of all end commodities produced within the…

Q: China's economic growth in 2015 is slowest in 25 Years China's growth rate slowed to an annual rate…

A: According to rule of 70 states when an economy's GDP grows at a constant annual rate, it will nearly…

Q: The data of for 1960 shows that the real GDP per capita was $6.354 for Japan, $12,282 for Germany,…

A: If the growth rate is represented by g and the initial value of the certain variable is X0 , then…

Q: If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it…

A: GDP refers to the value of all final goods and services produced in an economy over a given period…

Q: Suppose the 50% of the income generated by an economy is paid to workers, thus implying that the…

A: Given: Income paid to workers=50% Income paid to capital=50% Growth in GDP=4% Growth in capital=1%…

Q: The GDP of South Africa in 1950 was 77,836.88 million dollars. In 2019 it was 748,861 million…

A: The Annualized Growth Rate is a measure used to calculate the average annual growth of a value or an…

Q: Calculate the nominal and real GDP in 2006 and 2007, the GDP deflator and the growth rate in real…

A: GDP is equal to the sum of current year price multiply by current year  quantity of goods.

Q: uppose the u.s. nominal GDP increases from one year to the next year. Can you conclude that these…

A: The nominal GDP is the measure of GDP which is being calculated by multiplying the current year…

Q: Between the start of 2012 and the start of 2013, a country’s economic growth rate was 4 percent. Its…

A: The GDP is an indicator of a nation's economic production during a given time frame, often one year.…

Q: In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in…

A: GDP is the indicator utilized across the globe to demonstrate the wellbeing of a country's economy:…

Q: Statement Canada Guatemala Hong Kong Korea Niger United Kingdom This economy experienced the fastest…

A: ANSWER

Q: What is the potential impact of rapid economic growth on: a) A nation's tax base? b) GDP/Capita?…

A: Economic growth implies the upheld development in the production of goods and services inside an…

Q: Suppose a country a real GDP of $159. What will the size of the GDP be after 14 years if the economy…

A: Gross domestic product (GDP) growth is the rise in a nation's GDP over a predetermined amount of…

Q: In 2014 per capita Real GDP was $21,782 in Sweet Potato Hollow. In 2015 per capita Real GDP was…

A: 2014 dataPer capita real GDP = $21,7822015 dataPer capita real GDP = $22,030