Question 1 Over a 20 year period, a country's per capita GNP grows by 80%. Its average annual growth rate is closest to 1% 9% 3% 4%

Q: Assume that the per-worker production function is yt = 2kt^(0.3). The saving, depreciation and…

A: Solving for Steady State in the Solow ModelWe can solve for the steady state in this Solow growth…

Q: If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required…

A: Rule of 72 is used to calculate the no. of years it will take to double.  Rule of 72 can be…

Q: If real GDP in Country A amounted to $1.62 trillion in 2019 and $1.71 trillion in 2018, the real GDP…

A: Real GDP growth rate = [[Real GDP in 2019 - Real GDP in 2018] / Real GDP in 2018] * 100

Q: How do I calculate average percent growth of Real Per Capita GDP using FRED database for years…

A: The growth rate refers to the rate at which a variable changes in percentage terms from period to…

Q: GDP decreased by 8% from March 31 to June 30, 2020. the annualized GDP growth rate for this period…

A: The GDP is the total income from goods and services produced domestically during a particular period…

Q: Please define and discuss Economic Growth with examples

A: Economic growth means a rise in the production of goods & services in a country. It means a rise…

Q: what causes two country to have similar investment but different growth rate

A: There are many factors which affects growth rate of any country besides the investment.

Q: Why do poor countries often exhibit much stronger growth rates than rich countries ?

A: Poor countries are those which have low GDP, which have recently become independent. There are…

Q: The most commonly used measure of the economic growth of a country is which of the following? (A)…

A: Economic growth is measured by the increase production of goods and services per capita by a country…

Q: if people in it in poverished nation are faced with life and death survival decisions what is the…

A: Economic growth: It refers to the development of the economy. The economic growth shows that the…

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: What is the impact of productivity growth on a nation's inflation rate or level

A: Inflation rate: It means a general rise in the price level in an economy over a period of time.

Q: How much should a nation be concerned if its rate of economic growth is just 2% slower than other…

A: The small difference in the rate of growth makes larger economic effect over a long period of time…

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: Why did the average GDP growth rate declined in Western Europe during the period of 1913- 1950…

A: It is the total value of goods and services that are produced in a country during a given period of…

Q: Does a country need to be well endowed with natural resources in order to experience rapid long-term…

A: Economic growth refers to the increase in the amount of goods and services produced in the economy.…

Q: Of the following countries, which one had the highest average growth rate per year from 1993-2012?…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: If country A has currently GDP per capita of $65,000 and economic growth rate of 2%, and Country B…

A:

Q: what are the benefits of economic growth to a country

A: Economic growth refers to the production of economic goods and services in the economy compared with…

Q: Justify the statement. T/F  Economist does not consider the non monetary measures in evaluating the…

A: Introduction Non-monetary measures are indicators of economic development which are not related to…

Q: With reference to South Africa’s economic growth, answer the following:   a) Discuss the main…

A: South Africa's economic growth since the 1970s has been driven by several factors, including mineral…

Q: A nation can achieve higher economic growth if: Group of answer choices it devotes more resources to…

A: Economic growth refers to the increase in goods and services produced in a country as compared to…

Q: In a country, if the growth rate of RGDP per person is 5%, how long it will take to double its RGDP…

A: The value of economic output can be measures by RGDP and which is adjusted for inflation or…

Q: The economy has grown by 4% per year over the past 30 years. During the same period, the labor force…

A: In economics, the growth rate refers to the percentage change in a variable over a period of time.…

Q: How can a nation’s budgets support growth

A: A budget in economics is described as the estimation of expenses and revenues over a particular…

Q: In a given year the nominal GDP growth rate is 10%, with inflation and population growth rates of 5%…

A: Given, Nominal GDP growth = 10% Inflation growth rate = 5% Population growth rate = 2%

Q: Nigeria's average real GDP per capita growth from 1961 to 2019 is 2.4%.  Using the Rule of 70,…

A: Real GDP measures the value of goods and services using constant sets of prices.

Q: An increase in the standard of living of citizens of a country can be best measured by the growth…

A: Per capita nominal GDP:-                            Nominal GDP per capita=Nominal GDPPopulation…

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: Explain why in the period of 2014-2018 the TFP contribution to GDP growth diminished to 0.8…

A: The 1980s stand out as a period of significant change in the dynamic of Country T's economic…

Q: How does production and growth are related to each other? Compare and contrast.   no to plagiarism

A: The production of the goods and services would result in the creation of the final value of the…

Q: Four Reasons why economic growth is important for a country

A: Gross domestic product is the market value of final goods and services that are produced within the…

Q: Explain about the positive relation between growth rate and standard of living of a country.

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital…

Q: How to calculate Average annual growth rate of real GDP per worker, Real GDP per person, Real GDP…

A: The real GDP per capita is calculated by dividing the actual GDP by way of the overall…

Q: In 2020, the GDP was approximately $20 trillion.  If GDP is expected to double in 20 years, what is…

A: Given  GDP in year 2020 = $20 trillion  It is expected to double in the next 20 years  It means that…

Q: In a country real GDP per capita 10 years ago was 24891, and now it is 38152. Calculate the average…

A: here we calculate the average yearly growth rate by using the given information so the calculation…

Q: At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over…

A: Using rule of 70, Doubling period = 70 / annual growth rate = 70 / 2 = 35 years

Q: Two ways in which the manufacturing sector can contribute to economic growth

A: Economic growth is a rise in the level of services and goods that are sustained over a long period…

Q: If an economy's GDP will double in 15 years, then its growth rate must be about:    7%…

A: Rule of 70 is a very helpful way to estimate the time required for an investment to double given the…

Q: One of the biggest challenges for stimulating economic growth in high-income countries is Group of…

A: Economic growth, the tactic by that a nation's wealth can increase over time.. Economic growth is a…

Q: a given theorhetical country currently has a GDP of 50,000. The growth rate is projected to hit 7%…

A: GDP is the value of final goods and services produced in the economy within a period of time.

Q: Discuss how lowering taxes contribute to a country economic growth.

A: Lowering tax rates contribute to economic growth. When taxes are reduced, the disposable income…