Modern Principles of Economics
Modern Principles of Economics
4th Edition
ISBN: 9781319098728
Author: Tyler Cowen, Alex Tabarrok
Publisher: Worth Publishers
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Chapter 27, Problem 1FT
To determine

The number of babies dying in Nigeria before the age of 5 years.

Expert Solution & Answer
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Explanation of Solution

The number of children dying before completing the age of 5 years can be calculated from the data. According to the data, the number of children dying before completing 5 years in the country of Nigeria is approximately 200 babies per 1,000, whereas in the case of Argentina, it is only 15 babies out of every 1,000 babies. This shows how much these countries differ in their GDP and growth aspects. The difference in the GDP per person between Nigeria and Argentina is around $9,000 per year.

Economics Concept Introduction

Concept introduction:

Gross Domestic Product: The gross domestic product is the money value of all the final goods and services produced within the domestic territory of the nation in a financial year.

GDP per person: GDP per person is the total GDP value of the country divided by the total population of the country. It is used to compare the performance of two countries.

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