Mindtap Economics, 1 Term (6 Months) Printed Access Card For Arnold's Macroeconomics, 13th
13th Edition
ISBN: 9781337621397
Author: Arnold, Roger A.
Publisher: Cengage Learning
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Chapter 17, Problem 2WNG
To determine
Role of advance in technology for increase
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Go to a recent issue of The Economist magazine. In the back of each issue is a section called “economic indicators.” That section lists the most recent growth data for a substantial number of countries. Which countries around the world are growing most rapidly according to the most recent data? Which countries around the world are growing more slowly? Flip through the stories in The Economist to see if there is any explanation for the pattern that you observe. Write a brief essay on current general economic conditions around the world.
What do economists mean when they refer to improvements in technology?
Explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. Give an example to help support your answer.
Chapter 17 Solutions
Mindtap Economics, 1 Term (6 Months) Printed Access Card For Arnold's Macroeconomics, 13th
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- What impact does technological change have on the economy?arrow_forwardWhich country looks like it's experiencing exponential growth?arrow_forwardUse the data for the country of New Finlandia in the following table to calculate the following: REAL GDP PER CAPITA (2005 PRICES) $41,603 YEAR 2010 2011 2012 42,933 42,416 2013 2014 43,311 43,246 (HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of those years.) a. The percentage increase in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.) b. The average annual growth rate in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)arrow_forward
- 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 growtharrow_forwardWhy do you think most western countries GDP has not grown as fast as China's GDP over the last 10 years? If you were in charge of trying to make a country like Spain's economy grow faster what would you do?arrow_forwardHello, Can you explain? Can a technological advancement in sector “ X” of the economy affect the number of people who work in sector “Y” of the economy? Explain.arrow_forward
- What creates or stimulates the rate of economic growth in the economy, in macroeconomicsarrow_forwardCalculate real growth per capita in the following countries:Instructions: Round your answers to 1 decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of the number.a. Democratic Republic of Congo: population growth = 2.7 percent; real output growth = - 1.5 percent. %. b. Estonia: population growth = - 0.5 percent; real output growth = 4.4 percent. %. c. India: population growth = 2.2 percent; real output growth = 6.3 percent. %. d. United States: population growth = 0.6 percent; real output growth = 2.7 percent. %. 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.arrow_forwardWhat is the relationship between the growth rate of real GDP and the growth rate of real GDP per person?arrow_forward
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