Does per capita GDP in these countries appear to be converging?No, the countries with the lowest levels of GDP per capita have the lowest rates of growth.O No, the countries with the highest levels of per capita GDP have the lowest rates of growth.Yes, the countries with the lowest levels of per capita GDP have the highest rates of growth.Yes, the countries with the highest levels of per capita GDP have the highest rates of growth. Use the table below to answer the following questions.GDP per capitaGDP per capitaCountry2013($)Boliv3,664Chi4,102Ghala2,007Artinia10,860Plazi8,6032018 ($)4,5927,5192,61515,85411,239Which country had the highest level of per capita GDP in 2018?GhalaChiBolivPlaziArtiniaWhich country had the highest rate of growth in per capita GDP from 2015 to 2018?GhalaPlaziBolivArtiniaChi

a. By looking at the "GDP per capita 2018 ($)" column in the table, Artinia has the highest value of…

Answered: Does per capita GDP in these countries…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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For each growth rate below, () use the rule of 70 to calculate how long it will take incomes to double, and (i) if each country starts with an income of $1,000 per capita, use the exponential growth equation to calculate what the income will be in 30 years. Instructions: Round your answers to one decimal place. Tears for incomes Incomes in to 30 years double a. 4 percent 175 10 b. 7 percent C. 2.5 percent d. 10 percent e. 3 percent 28 233
What is the best way to measure the rate of economics growth? a. By the annual percentage change in nominal GDP O b. By the annual percentage change in nominal GDP per capita O c. O d. By the annual percentage change in real GDP By the annual percentage change in real GNP per capita Oe. None of the above
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. Why have some countries reduced the gap between their incomes andthat of the United States and other countries failed to do so?
Suppose that real GDP per person in Panama in 2017 was about $15,000 per person, while it was about $60,000 per person in the United States. If real GDP per person in Panama grows at the rate of 4 percent per year, about how long will it take Panama's real GDP per person to reach the level that the United States was at in 2017? (Hint: How many times would Panama's 2017 real GDP per person have to double to reach the United States' 2017 real GDP per person?) Instructions: Enter your answer as a whole number. years
According to the text, European countries' growth rates of real GDP per capita Select one: O a. decreased in the first two decades after 1980 and then increased in the following two decades. O b. decreased during each of the four decades beginning 1980. O c. followed a random pattern during the four decades beginning 1980. O d. remained constant during each of the four decades beginning 1980.
India's Economy Hits the Wall Just six months ago, India was looking good. Annual growth was 9%, consumer demand was huge, and foreign investment was growing. But now most economic forecasts expect growth to slow to 7%-a big drop for a country that needs to accelerate growth. India needs urgently to upgrade its infrastructure and education and healthcare facilities. Agriculture is unproductive and needs better technology. The legal system needs to be strengthened with more judges and courtrooms. Source: BusinessWeek, July 1, 2008 Explain potential sources for faster economic growth in India suggested in this news clip. Potential sources for faster economic growth in India include O A. increasing consumer demand because it increases real GDP O B. slowing the population growth rate because a slower population growth rate means that fewer consumption goods can be produced and more capital goods can be produced OC. announcing high economic growth forecasts because firms will produce the…
A country faces diminishing marginal returns when increasing it's capital stock. If this country added 1,000 units of capital last year and saw their GDP rise by $500 per person, what would you expect to happen if they had added 2,000 units of capital instead? O GDP would increase by another $500 per person O GDP would increase by less than another $500 per person O GDP would increase by more than another $500 per person O It is impossible to tell what would happen What is a potential downside of using patents to promote the creation of new technology? Without a market test, patents might be given to technology which ends up being useless. O Government money may be directed towards unproductive goals. It slows the spread and development of those ideas by restricting competition. They prohibit competition forever. What is the law of diminishing marginal returns?
Which of the following is true about classifying countries as low income, middle income, or high income? O There is no criteria for classifying economies as low income, middle income, or high income O Countries with unemployment rates above 5% are classified as low income Low income countries have $1,025 per capita GDP per year or lower O High income countries have $15,625 GDP per capita GDP per year or higher
Which of the following institutions, if adopted by a country, will most directly help alleviate the problem of corruption limiting economic growth? Choose one: O A. stable money and prices - O B. private property rights OC. political stability and the rule of law OD. competitive and open markets
Two countries, Alpha and Beta, have identical production possibilities frontiers. If Alpha produces at point A and Beta produces at point B, then OA. Alpha consumes more than Beta today, but it will grow slower than Beta B. Alpha's economic growth rate will exceed Beta's ⒸC. Alpha's and Beta's economic growth rates will be the same O D. Beta's future consumption will be less than than Alpha's Capital goods (per person) PPF
3 tries left Suppose instead that China's real GDP growth turns out to be 6.9 percent per year for the next decade. By how much will China's real GDP increase then during the entire decade? China's real GDP will increase by Type percent during the entire decade. (Round your response to one decimal place.) Submit

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