Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter 16, Problem 12CQ
To determine
Explain how the diversity of goods influences the consumer welfare.
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There are two countries in the world: Happytimes and Treehausland. Both countries currently have a GDP per capita of 1. Use the information in the table about growth and productivity to answer the questions. Round all numerical answers to two decimal places.
Country
Growth rate of GDP per capita
Happytimes
0.086
Treehausland
0.031
What is GDP per capita in Happytimes in 21 years21 years ?
Happytimes's GDP: $
What is GDP per capita in Treehausland in 21 years21 years ?
Treehausland's GDP: $
In 21 years21 years , Happytimes grows how many times more than Treehausland?
Happytimes's growth:
times Treehausland's growth
What are the current growth rates, population size and patterns of the United States, China, and Brazil. What are the discussions on events or policies that may have affected that countries population size/growth rate. Be sure to include reputable sources, such as the United Nations or your selected country's government websites. government's response to population changes (laws, policies, social changes, etc.) Give the current population size of the world and the current projection of the population size as the 21st century progressed.
What is the Demand growth rate?
Chapter 16 Solutions
Economics: Private and Public Choice (MindTap Course List)
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