Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6, Problem 10APA
(a)
To determine
Estimate the value of growth rate of real
(b)
To determine
Estimate the value of growth rate of real GDP per person.
(c)
To determine
Estimate the number of years to double the growth rate of real GDP per person.
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Australia's real GDP was $A1,730 in 2017 and $A1,782 in 2018.
Australia's population was 24.6 million in 2017 and 25.0 million in 2018.
Calculate
a. The growth rate of real GDP.
b. The growth rate of real GDP per person.
c. The approximate number of years it will take for real GDP per person in Australia to double if the current real GDP growth rate and population growth rate are maintained.
Malaysia’s real GDP was $560 billion in 2010 and $570 billion in 2011. Malaysia’s population was 130.7 million in 2010 and 130.8 million in 2011.
i. Calculate economic growth rate of Malaysia.
ii. Calculate growth rate of real GDP per person of Malaysia.
iii. How many years it takes for real GDP per person in Malaysia to double if the 2010 economic growth rate and population growth rate are maintained.
If the current real GDP growth rate and population growth rate are maintained, real GDP per person will double in approximately ____ years
answer with a whole number
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.3 - Prob. 1RQCh. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQ
Ch. 6.3 - Prob. 5RQCh. 6.3 - Prob. 6RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Prob. 5SPACh. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APACh. 6 - Prob. 24APACh. 6 - Prob. 25APA
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