Suppose that the average annual rate of population increase in Econland in recent years was about 2 percent. Based on this rate of growth, the population of Econland will double in about 35 years.   11 years.   7 years.   46 years.

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: Which of the following are possible outcomes of rapid population growth? A reduction in capital per…

A: Population growth refers to the expansion in the quantity of individuals inside a population…

Q: Higher productivity leads to lower levels of economic growth.

A: Economic growth is refers to sustained increase in real GDP and aggregate output in the economy.…

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: Real GDP per capita increases by 9% in the first year and by 5% in the second. After 2 years, what…

A: We assume that the real GDP per capita in Year 0 is $100 After one year in Year 1 our GDP increases…

Q: TRUE OR FALSE: Population growth in high-income countries is higher than in low-income countries.

A: Concepts: A higher income country is a natiom with higher per capita income. It implies a higher…

Q: ​Capital formation is a key component of economic growth.  True  False

A: Capital Formation is that part of the output of an economy which is currently produced and is…

Q: Economic growth accounting studies show that Group of answer choices Improvements in physical…

A: Enterprise is carried out by entrepreneur and therefore enterprise would be occupationally mobile if…

Q: Which of the following policies should the government NOT adopt if its goal is to enhance economic…

A: When talking about economic growth, it can be said that it is explained by an increase in 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: Assume that a leader country has real GDP per capita of $80,000, whereas a follower country has real…

A: The growth rate of real GDP (Gross Domestic Product) is a measure that quantifies the percentage…

Q: According to the rule of 72,if the economy of the United Apex Emirates will double in 52 years, at…

A: The rule of 72 is an approximation to figure out doubling time required by an economy with a certain…

Q: Botswana’s population grew by 3.5 percent per year, 1970–80, and by 3.4 percent, 1980–93, while…

A: A standard of living is the level of wealth, comfort, material products, and necessities available…

Q: South Africa's economic growth rate in 2018 was percent. percent. The growth rate of real GDP per…

A: Economic growth rate:  Economic growth rate is the percentage of the value of the real gross…

Q: In class, we learned that saving and investment in physical capital increase the capital per worker…

A: As per the guidelines we are allowed to answer the first question only. Please post the remaining…

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: Which of the following is NOT an institution as defined by the study of economic growth a) the…

A: The United nations is not an Institutions as defined by the study of economic growth.

Q: in a given year, suppose the real GDP per capita growth rate is 3.8 percent, the inflation rate is 2…

A: Given:Real GDP per capita growth rate = 3.8 percent Inflation rate = 2 percentPopulation growth rate…

Q: Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year…

A: Rule of 70: - it gives the number of years in which an amount of money gets doubled at a particular…

Q: Real GDP per capita in the country of Arcadia grew from about $4,666 in 1900 to about $42,069 in…

A: The situation in which the overall flow of products and goods is calculated in the domestic market…

Q: If country A’s and country B’s GDP per capita are $10,000 and $5,000 this year, respectively.…

A: Ans. ) Given in the question, there are two countries, A and B. Also, it is given that country A's…

Q: Explain how each of the three conditions Smith describes would promote economic growth

A: Peace would promote economic growth as it is an indication of respect to property rights. Violence,…

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: The table below shows the level of real GDP and real GDP per capita growth rates for a select set of…

A: Rule 72 formula has been used to estimate the time (in years) required to double the amount given…

Q: The population of Eturia is shown in the table below. Population (millions) a. Population growth…

A: Year  Population     2018 16 2019 16.56 2020 17.14 1. What is population growth between…

Q: Which of the following countries would be more likely to experience strong economic growth, other…

A: Economic growth means an increase in the total production of goods and services in a given year in…

Q: 28) Empirical evidence from 1960 to 2010 shows that convergence in economic growth is occurring in…

A: ***Since the student has posted multiple questions, the expert is required to solve only the first…

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: The key to economic growth for a country is a) investment. b) net exports. c)government spending.…

A: Economic growth is characterized as the expansion in the production of goods and services in an…

Q: Answer the following questions. Instructions: Enter your answer as a whole number. a. A relatively…

A: a. Compound growth refers to the process where the value of an investment or economy increases at an…

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: Consider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of…

A: To determine which country will have a higher per capita GDP when t=35 time periods (years), we can…