just c and d please thank you. question c needs two graphs (says figures). gdp per capita for all countries is in second image. 1970 to 2019 is 50 years
just c and d please thank you. question c needs two graphs (says figures). gdp per capita for all countries is in second image. 1970 to 2019 is 50 years
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 1P
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just c and d please thank you. question c needs two graphs (says figures).
Transcribed Image Text:This problem asks you to collect and analyze data about the relationship between the initial
income level and the growth rates across countries.
a. Find real GDP per capita for 10 high-income countries from 1970 to 2019, and
calculate the average annual growth rate of real GDP per capita for each country over this
period.
b. Repeat Part (a) but for 10 low-income countries. Include some countries in Sub-
Saharran Africa.
c. Draw two figures using the data you have collected in Part (a) and (b) with each point
representing a country. Use the horizontal axis to represent GDP per capita in 1970, and
the vertical axis the average annual growth rate during 1970-2019. The first figure should
include countries in Part (a) only, and the second figure should include countries in both
Part (a) and (b). Can you observe cross-country income convergence in these figures?
d. Can the Solow model explain the patterns above? Why or why not? Explain.
Transcribed Image Text:HIGH INCOME GDP p/capita
United States
Germany
Canada
United Kingdom
Japan
Australia
France
Sweden
Switzerland
Singapore
LOW INCOME GDP p/ capita
Afghanistan
Haiti
Chad
Mozambique
Niger
Sierra Leone
Somalia
Sudan
Togo
Madagascar
1970
2019
5234.3 65,120.40
2761.2 46,793.70
4135.8 46374.2
2347.7 42,747.10
2056.1 40,416
3304.8 54,941.10
2870.2 40,494.90
4736.2 51,939.40
3344.8 84,121.90
925.8 66,070.50
162.6
500.50
70.8 1,345.50
128 701.60
812.2 11,330.50
551
139.20
156.3
506.60
86.7
405.80
143.4
848.30
167.5 848.30
167.5
512.30
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