10.5Linear trend (y)10.0Log of GDP per capita95y = 0.0214x+ 8.7782R = 0.98899.08.5YearThis shows log GDP per capita for the UK Which of the following statements are correct?Select one or more:a. The graph shows that in 1950 UK GDP per capita was about £8.75.Ob.The trend growth rate over the period was 0.9889% per annum.When actual output is below trend output the economy is in recession.U d. The trend growth rate over the period was 2.14 % per annum.Log of GDP per capita19501955--0961995--000,2005

This shows log GDP per capita for the UK. Which of the following statements are correct? Select one or more: U a. The graph shows that in 1950 UK GDP per capita was about £8.75. b. The trend growth rate over the period was 0.9889% per annum. O c. When actual output is below trend output the economy is in recession. U d. The trend growth rate over the period was 2.14 % per annum.

This shows log GDP per capita for the UK. Which of the following statements are correct? Select one or more: U a. The graph shows that in 1950 UK GDP per capita was about £8.75. b. The trend growth rate over the period was 0.9889% per annum. O c. When actual output is below trend output the economy is in recession. U d. The trend growth rate over the period was 2.14 % per annum.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 8MC

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The following is the graph of the natural log of UK real GDP per capita between 1875 and 2014: Based on this information, which of the following statements is correct? Log of real GDP per capita 11.0 10.5 10.0 9.5 9.0 8.5 8.0 7.5 -068T ა c Year Show Transcribed Text y-0.0156x 7.7734 R-0.9445 (A) The graph shows that real GDP per capita in the UK in 1955 was about £8,000. (B) The slope of the best-fit straight line is the average annual growth rate. (C) The graph shows that the average growth rate was lower in the decades after 1921 than in the decades before 1918. (D) The graph of real GDP per capita plotted using a ratio scale would look very different to the graph above.
The figure above shows the log of UK real GDP per capita between 1875 and 1914. Which of the following is correct? Log of Real GDP per capita 10,5 10,0 9,5 9,0 8,5 8,0 7,5 1875 1890 5061 1920 1935 1950 1965 1980 y=0,0156x +7,7734 R²=0,94451 1995 2010 O The growth of GDP in the 1950s was above the long-run average. O The growth of GDP in the 1880s was above the long-run average. In the figure the coefficient on x is 0.0156 and tells us the slope of the regression line (line of best fit). If, instead, this were 0.02 the line would be flatter. ● The slope of the blue line tells us the rate of growth of per capita GDP but can tell us nothing about the level.
Refer to Table 4.3 “The Model’s Prediction for Per Capital GDP” on page 83. Why is the “observed per capita GDP” in the last column 1.000 for the U.S.? A. The U.S. per capita GDP was $1,000 in real terms for the year given in the table B. It means the U.S. economy produces 100% of what it’s supposed to produce C. It means the U.S. economy uses 100% of all available capital in the country D. U.S. values are set, or normalized, to 1 while the other countries’ values are all relative to the U.S. values
Suppose that the GDP of California increases by 8.0% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 17 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
Using the following data, calculate productivity: GDP = 100 billion Employment = 1 million %3D Annual hours worked per worker = 2,000
Macmillan Learning Suppose that the GDP of California increases by 12% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 22 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
You are going to compare and contrast the GDP of the United States to that of another country of your choice for the last 3 years. Your report in narrative format should address the following questions: Describe the current GDP growth rate of the two countries. Which component of the GDP of the two countries changed the most for the last 3 years? Identify the possible causes of the changes. Describe the biggest component of the GDP of the two countries. What recommendations would you make in order to boost the GDP of the two countries?
How large will Canada’s GDP be in 25 years? The answer depends on what the rate of growth in GDP will be over that 25-year period. A mathematical formula we can use for this calculation is the following: GDP2041 = GDP2016 (1 + g)25 where GDP2041 is the level of GDP in the year 2041, GDP2016 is the level of GDP in the year 2016, and g is the rate of growth in GDP. Assume that GDP in 2016 is $1000 million and assume that the value of g is 0.035 (3.5 percent per year). What will be the value of GDP in 2041? Now suppose that the value of g is 0.040 (4.0 percent per year). What will be the value of GDP in 2041 given this slightly larger rate of growth? What does this result say about the importance of policies that promote even slightly faster rates of growth in GDP?
The following table shows real GDP per capita for Canada, South Korea, and Uganda between 1970 and 2000. All figures are in 1998 U.S. dollars. The (decade-long) economic growth rate for Canada is shown in the second column. For example, from 1970 to 1980, Canada's GDP grew from $12,717 to $16,731, an increase of $16,731−$12,717$12,717=32%$16,731−$12,717$12,717=32%. Use this method to fill in the growth rates for South Korea and Uganda. Canada South Korea Uganda Year Real GDP per Capita Growth Rate Real GDP per Capita Growth Rate Real GDP per Capita Growth Rate 1970 $12,717 $1,886 $190 1980 $16,731 32% $3,262 $182 1990 $19,540 17% $6,615 $176 2000 $23,156 19% $10,807 $247 Source: Organisation for Economic Cooperation and Development (OECD) 1.Compare the data for Canada and South Korea between 1970 and 1980. During this period, (south korea or canda?) had a higher level of real GDP per capita, while ( South Korea or…
In 1960 GDP per capita in the Republic of Korea (constant 2015 US$) was $1027. In 2021 it was $32731. Calculate the growth rate of real GDP per capita in the Republic of Korea over this period. Now suppose that the Republic of Korea grows at the same rate for the 70 years following 2021. What will the Republic of Korea real GDP per capitae in the year 2091? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Year 1960 1980 Argentinal 2018 $5,643 Percentage of Real GDP per 1960 2018 capita real real (2010 GDP GDP dollars) per per capita capita 7,908 ? 2000 8,224 ? The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita in 2010 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1980, 2000, and 2018. 10,044 ? ? ? ? C Ghana Real GDP per 1960 capita real (2010 GDP dollars) per Percentage of 881 $1,056 ? 952 capita ? ? 1,807 ? 2018 real GDP per capita ? ? ? 2. South Korea Real GDP per capita (2010 dollars) $944 Percentage of 15,105 1960 real GDP per capita ? 3,700 ? ? 26,762 ? 2018 real GDP per capita ? ? ? ?
(a) Does the data on Cambodia's GDP per capita in the table correspond approximately to a linear function, an exponential function, or neither? Year 2010 2011 2012 2013 2014 2015 GDP/capita ($/person) 782.7 824.8 870.5 920.3 969.3 1020.9 The data approximately corresponds to Choose one ▼ (b) Find a formula to approximate G, the GDP per capita in dollars/person, as a function of time, t, in years since 2010. NOTE: Round your estimated coefficients to 3 decimal places. We have G(t) 2 (c) What is the approximate annual percent increase in per capita GDP? NOTE: Give your answer to 1 decimal place. GDP is increasing at approximately % per year.