Impact of population growth on economic growth . Concept Introduction: Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large. Population growth rate - The average annual growth rate of the population of the country is given by, Here, p = Population growth rate, P = Population , t = current time period, (t -1 ) = previous time period. Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as: Y = C + I + G + ( X − M ) . Here, Y = GDP , C = Consumption, I = Investment, G = Government, X = Exports, M = Imports. Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as: Y r = G D P / D . Here, Yr = Real GDP, Y = GDP D = adjustment factor

Question

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Answer 1

Question

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

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1. Suppose that the two nations face the following benefits of pollution, B, and costs of abatement, C: BN = 10, Bs = 7; CN = 5, Cs = 4. Further assume that if the nation chooses to abate pollution, it still receives the benefits of pollution but now must pay the cost of abatement as well. a. Identify the payoffs that accrue to each nation under the four different possible outcomes of the game and present these payoffs in the normal form of the game. b. Recall that the term dominant strategy defines the condition that a player in a game would prefer to play that strategy (in this case either pollute or abate) regardless of the strategy chosen by the other player in the game. Does either nation have a dominant strategy in this game? If so, what is it? c. Identify the Nash equilibria, or non-cooperative equilibria, of this game.

Answer 2

Question

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

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Answer 3

Question

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

Answer 6

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

Answer 7

Chapter 18, Problem 18.1LO

To determine

Impact of population growth on economic growth.

Concept Introduction:

Population growth - An increase in the number of individuals in an economy leads to a growth of the population. An increase in the average human age coupled with a decreasing death rate leads to an increase in the population of country in specific and world at large.

Population growth rate - The average annual growth rate of the population of the country is given by,

Here,

p = Population growth rate,

P = Population ,

t = current time period,

(t -1 ) = previous time period.

Economic Growth or rate of growth of GDP - It is the macroeconomic measure of the value of economic output in a country in a given year. Algebraically, the GDP equation is written as:

Y=C+I+G+(X−M) .

Here,

Y = GDP ,

C = Consumption,

I = Investment,

G = Government,

X = Exports,

M = Imports.

Real GDP : GDP adjusted for inflation/deflation is the Real GDP of the country. It is also called the “constant price”, “inflation corrected”, or “constant dollar GDP”. It is the significant economic measure indicating the economic growth and purchasing power in the economy. Algebraically, it is expressed as:

Yr=GDP/D .

Here,

Yr = Real GDP,

Y = GDP

D = adjustment factor

Answer 8

Expert Solution & Answer

Explanation of Solution

The per capita income in the country measures the real growth of the economy. It implies how the growth in the country affects the income and employment of the economy. The Per-Capita Real GDP equals the total income divided by the population of the country in any given year. In other words,

Per Capita Real GDP=Real GDPPopulation .

The growth rate of the Per-Capita Real GDP equals the difference between the growth rate of the income and the growth rate of the population. This implies that,

Economics Today: The Macro View (19th Edition) (Pearson Series in Economics), Chapter 18, Problem 18.1LO , additional homework tip 2

Thus, the increase in the population growth rate staggers the growth effects in the economy.

Further, a lower Real GDP level deters the growth of the economy in the long run as the growth is distributed among increasingly higher number of heads to be fed. The higher population thus, absorbs the growth effect.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 18 - Prob. 18.1LO Ch. 18 - Prob. 18.2LO Ch. 18 - Prob. 18.3LO Ch. 18 - Prob. 18.4LO Ch. 18 - Prob. 18.5LO Ch. 18 - Prob. aFCT Ch. 18 - Prob. bFCT Ch. 18 - Prob. cFCT Ch. 18 - Prob. 1CTQ Ch. 18 - Prob. 2CTQ

Explanation of Solution

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Chapter 18 Solutions