Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
expand_more
expand_more
format_list_bulleted
Question
Chapter 6.2, Problem 1RQ
To determine
Explain Country U’s average growth rate over the past 100 years.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
What is the relationship between the growth rate of real GDP and the growth rate of real GDP per person?
How quickly does GDP need to grow in order to provide for population growth?
What is the growth rate of output per person in this economy?
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
Knowledge Booster
Similar questions
- growth in real GDP is not always seen as economic growth. why?arrow_forwardWhy does economic growth matter in an economyarrow_forwardHypothetical data is given for the following countries. Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one 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 = 2.8 percent; real output growth=-1.6 percent. Real growth per capita: % b. Estonia: population growth-(0.6) percent; real output growth-4.5 percent. Real growth per capita:[ % c. India: population growth=1.7 percent; real output growth = 5.9 percent. Real growth per capita: [ % d. United States: population growth 0.7 percent; real output growth = 2.8 percent. Real growth per capita: [arrow_forward
- Why might it be necessary to reduce consumer spending in order to attain fastereconomic growth? Would it be worth the sacrifice?arrow_forwardCalculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one 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=2.6 percent; real output growth = -1.4 percent. Real growth per capita:% b. Estonia: population growth=-0.3 percent; real output growth 4.3 percent. Real growth per capita: % c. India: population growth = 2.1 percent; real output growth 6.2 percent. Real growth per capita: % d. United States: population growth = 0.4 percent; real output growth 2.6 percent. Real growth per capita: %arrow_forwardWhat are the current growth rates, population size and patterns of the United States, China, and Brazil. What are the discussions on events or policies that may have affected that countries population size/growth rate. Be sure to include reputable sources, such as the United Nations or your selected country's government websites. government's response to population changes (laws, policies, social changes, etc.) Give the current population size of the world and the current projection of the population size as the 21st century progressed.arrow_forward
- Calculate 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_forwardWith three economies, each of which has a GDP per capita of $100. Trend growth in these economies is 2%, 2.5%, and 5% respectively. Calculate GDP per capita for each economy after 5,10,20,50, and 100 years.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_forwardWhat are the two major determinants of the overall growth of the economy according to the view of economic growth based on labor data?arrow_forwardWhy did the average GDP growth rate declined in Western Europe during the period of 1913- 1950 comparing to the period 1870-1913. Start you answer by quoting the GDP growth rates (not GDP per capita growth rates) from the Madison table.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, IncEconomics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning