EBK MACROECONOMICS FOR TODAY
9th Edition
ISBN: 8220101425966
Author: Tucker
Publisher: CENGAGE L
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Chapter 20, Problem 4SQ
To determine
The problem of comparing standard of living between less-developed countries (LDCs) and industrially advanced countries (IACs) in terms of
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Macmillan Learning
Consider the table of GDP and population for several imaginary countries.
$
Country
Wrigleyville
Longhornland
Dinkytown
GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars
297.0
175
207.00
$
601.0
2873
Using this information, please answer the questions. If there is not enough information to answer a question, please enter -11.
A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.
1.100
B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
The table below lists GDP and GDP growth rates for the countries of Cortania, Microtania, and Boxtown. Fill in the final column, which asks for the GDP in each country 13 years later. Country GDP in $ billions GDP annual growth rate (%) Cortania Microtania Boxtown 10600.00 44000.00 48100.00 3 2 4.5 Gl
The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands.
Real GDP and Population over Time
Population
(thousands of
Real GDP per
Capita
(dollars)
Real GDP
(millions of
dollars)
$5,595
6,329
7,245
Year
people)
$25,903
216
220
28,768
227
31,916
Instructions: Round your answers to 1 decimal place.
a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita)
between year 1 and year 2.
Real GDP:
Population:
Standard of living:
b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2
and year 3.
Real GDP:
Population:
Standard of living:
1%
c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between
year 2 and year 3.
e to search
Chapter 20 Solutions
EBK MACROECONOMICS FOR TODAY
Ch. 20.2 - Prob. 1GECh. 20 - Prob. 1SQPCh. 20 - Prob. 2SQPCh. 20 - Prob. 3SQPCh. 20 - Prob. 4SQPCh. 20 - Prob. 5SQPCh. 20 - Prob. 6SQPCh. 20 - Prob. 7SQPCh. 20 - Prob. 8SQPCh. 20 - Prob. 9SQP
Ch. 20 - Prob. 10SQPCh. 20 - Prob. 11SQPCh. 20 - Prob. 12SQPCh. 20 - Prob. 1SQCh. 20 - Prob. 2SQCh. 20 - Prob. 3SQCh. 20 - Prob. 4SQCh. 20 - Prob. 5SQCh. 20 - Prob. 6SQCh. 20 - Prob. 7SQCh. 20 - Prob. 8SQCh. 20 - Prob. 9SQCh. 20 - Prob. 10SQCh. 20 - Prob. 11SQCh. 20 - Prob. 12SQCh. 20 - Prob. 13SQCh. 20 - Prob. 14SQCh. 20 - Prob. 15SQCh. 20 - Prob. 16SQCh. 20 - Prob. 17SQCh. 20 - Prob. 18SQCh. 20 - Prob. 19SQCh. 20 - Prob. 20SQ
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- Consider the table of GDP and population for several imaginary countries. Country GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars Wrigleyville 549.0 199.0 Longhornland 2223 161 Dinkytown 287.00 1.000 Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.arrow_forwardHigh-income countries United States Canada Japan France Middle-income countries i China India Libya Low-income countries Burundi Haiti Ethiopia Average Growth Rate (2000-2018) of GDP Population. 1.7 1.9 0.7 1.1 9.5 6.8 -1.2 3.1 1.4 9.8 0.8 1.0 0.0 0.6 0.5 1.4 1.2 3.1 1.5 2.8 Per Capita GDP 0.9 0.9 0,7 0.5 9.0 5.4 -2.4 0.0 -0.1 7.0 Assuming the 2019 per capita GDP growth rate is equal to the average growth rate (2000-2018) provided in the table, estimate 2019 per capita GDP for each of the following countries: Instructions: Round your responses to the nearest dollar. a. Japan: $[ b. Haiti: Sarrow_forwardPlease tell me which is the correct awnser for question 1.1 below there is nothing missing please just tell me which awnser or aawnsers are correct thank you Select one or more: a. If Country C's GDP per capita rises from $2,500 to 7,500, and Country D's GDP per capita rises from $6,000 to 18,000, the ratio of GDP per capita between the two countries is unchanged. b. If a country’s GDP doubles every 50 years on a ratio scale graph against time it will rise at an increasing rate. c. Country B is growing a higher percentage rate than Country A, but Country A is 5 times richer than Country B. On a linear scale graph against time the gap between the two lines must be narrowing. d. Country E is growing at the same percentage rate as Country F, but Country E is 3 times richer than Country F. On a log scale graph against time the gap between the two lines will be constant.arrow_forward
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- Three Irish sisters are thinking about emigrating in 1870. The optionsare going to the United States or Argentina, or staying in Ireland. They cannot agree where to go and split up. One stays in Ireland, one emigrates to the United States and one to Argentina. The following table provides information on real GDP per capita in 1870, 1913, and 1929 in Ireland, theUnited States and Argentina expressed in U.S. dollars of 1990, which we will use to analyze how each did. real GDP per capita 1870 1913 1929Ireland 1,775 2,736 2,824United States 2,445 5,301 6,899Argentina 1,311 3,797 4,367 (a) Using GDP per capita as a measure of wealth, how much richer or poorer was the average Irish relative to the average American and Argentine in 1870? Express your answer in percent.arrow_forwardDiscuss the merits and demerits of real GDP per capita a measure of a country’s living standardarrow_forwardConsider the following data for country A: Population (millions) Real GDP Country ($ billions) 50 A Calculate per capita real GDP (Enter your response rounded to the nearest integer.) Suppose that during the next 10 years, real GDP triples and population doubles in country A. What will per capita real GDP after 10 years have passed? (Enter your response rounded to the nearest integer.) $.arrow_forward
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