Using the growth rates for countries over the past 20 years, as shown in the figure below, is there evidence that poorer countries in Africa and Asia are converging to the level of income found in Western Europe? Regional growth rates, 1980-2018 The graph shows that while developed countries averaged growth rates of about 2 percent, developing countries in Asia grew much faster. Starting in about 2000, countries in sub-Saharan Africa also grew at a high rate. Real GDP growth rate (percent) 11 9 7 Emerging and developing Asla Sub-Saharan Africa (Region) Advanced economies 5 3 1 -1 -3 -5 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 2019 Source: IMF World Economic Outook, October 2018, www.imf.org/external/datamapper/NGDP RPCH@WEO/OEMDC/ADVEC/WEOWORLD. ○ Yes, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and Asia. ○ Yes, the map shows that over the past 20 years countries in Africa and Asia have grown faster than countries in Western Europe. ○ No, the map shows that over the past 20 years countries in Africa and Asia have not grown faster than countries in Western Europe. No, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and Asia.
Using the growth rates for countries over the past 20 years, as shown in the figure below, is there evidence that poorer countries in Africa and Asia are converging to the level of income found in Western Europe? Regional growth rates, 1980-2018 The graph shows that while developed countries averaged growth rates of about 2 percent, developing countries in Asia grew much faster. Starting in about 2000, countries in sub-Saharan Africa also grew at a high rate. Real GDP growth rate (percent) 11 9 7 Emerging and developing Asla Sub-Saharan Africa (Region) Advanced economies 5 3 1 -1 -3 -5 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 2019 Source: IMF World Economic Outook, October 2018, www.imf.org/external/datamapper/NGDP RPCH@WEO/OEMDC/ADVEC/WEOWORLD. ○ Yes, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and Asia. ○ Yes, the map shows that over the past 20 years countries in Africa and Asia have grown faster than countries in Western Europe. ○ No, the map shows that over the past 20 years countries in Africa and Asia have not grown faster than countries in Western Europe. No, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and Asia.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:Using the growth rates for countries over the past 20 years, as shown in the figure below, is there evidence that poorer countries in
Africa and Asia are converging to the level of income found in Western Europe?
Regional growth rates, 1980-2018 The graph shows that while developed countries averaged growth rates of about 2 percent,
developing countries in Asia grew much faster. Starting in about 2000, countries in sub-Saharan Africa also grew at a high rate.
Real GDP growth rate (percent)
11
9
7
Emerging and developing Asla
Sub-Saharan Africa (Region)
Advanced economies
5
3
1
-1
-3
-5
1980 1983
1986 1989 1992 1995 1998
2001 2004 2007 2010
2013 2016
2019
Source: IMF World Economic Outook, October 2018, www.imf.org/external/datamapper/NGDP RPCH@WEO/OEMDC/ADVEC/WEOWORLD.
○ Yes, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and
Asia.
○ Yes, the map shows that over the past 20 years countries in Africa and Asia have grown faster than countries in Western
Europe.
○ No, the map shows that over the past 20 years countries in Africa and Asia have not grown faster than countries in Western
Europe.
No, the map shows that over the past 20 years countries in Western Europe have grown faster than countries in Africa and
Asia.
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