The text makes numerous cross-country comparisons, but that does not mean that we have to restrict our analysis to countries. Consider the per capital real GDPdata for six U.S. states between 1997 and 2018.19972008California42,79267,698West Virginia32,62739,495New York53,84673,531Texas45,09158,417Colorado47,33559,057Ohio42,08651,456What is the difference in terms of average growth rate between the fastest growing state and the slowest growing state?

The average annual growth rate (AAGR) is the common boom or lower withinside the cost of an funding…

Answered: Texas 45,091 58.417 Colorado 47,335…

Texas 45,091 58.417 Colorado 47,335 59,057 Ohio 42,086 51.456 What is the difference in terms of average growth rate between the fastest growing state and the slowest growing state?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The text makes numerous cross-country comparisons, but that does not mean that we have to restrict our analysis to countries. Consider the per capital real GDP
data for six U.S. states between 1997 and 2018.
1997
2008
California
42,792
67,698
West Virginia
32,627
39,495
New York
53,846
73,531
Texas
45,091
58,417
Colorado
47,335
59,057
Ohio
42,086
51,456
What is the difference in terms of average growth rate between the fastest growing state and the slowest growing state?

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