Last year real GDP in the imaginary nation of Olympus was 445.0 billion and the population was 2.2 million.The year before, real GDP was 390.0 billion and the population was 2.1 million. What was the growth rateof real GDP per person during the year?14.1 percentO 0.09 percentO 1.09 percent8.9 percent

Given: Last year real GDP=445 billion Population=2.2 million The year before real GDP=390 billion…

Answered: Last year real GDP in the imaginary…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In the steady state of Solow's exogenous growth model, an increase in the savings rate .... O A. increases output per worker, reduces consumption per worker and decreases capital per worker. B. increases output per worker and increases capital per worker. C. decreases output per worker and decreases capital per worker. D. increases output per worker and decreases capital per worker. O E. decreases output per worker and increases capital per worker.
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006.25.0 - MC - MANK08 D Over the last century, U.S. real GDP per person grew at a rate of about a. 2 percent per year, so that it is now 2 times as high as it was a century ago. Ob. 2 percent per year, so that it is now 8 times as high as it was a century ago. O c. 4 percent per year, so that it is now 2 times as high as it was a century ago. d. 4 percent per year, so that it is now 8 times as high as it was a century ago. D
The table below shows the GDP of a country measured in trillions of dollars. What is the growth rate of the GDP of this country in 1999? Year 1998 1999 2000 2001 Profit $526.42 $527.10 $533.69 $541.70 O a) -0.02% O b) 0.04% O c) 0.08% O d) 0.13% O e) 0.18% O f) 0.25% g) There is not enough information to tell.
If real GDP per capita is increasing, the rate of real GDP growth is: O less than the rate of population growth. O greater than the rate of population growth. less than the rate of inflation. greater than the rate of inflation.
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Question 22 Here are hypothetical data for Germany and Japan on average labor productivity, the number of persons employed, and population in a given year: Average labor |productivity S88,204 $44,216 Number of persons employed 32.36 million 50.48 million than that of Germany by approximately . Population 78.17 million 104.3 million Germany Japan Japan's real GDP per person is O lower; $15,114 O higher; $121,711 O lower; $121,711 O higher; $15,114

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