Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 7.1, Problem 2ST
To determine
Explain the situation of $0
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The Real GDP for a country is $450 million in 2020. The population of the country is 125 million as of 2020. In 2010, the GDP was 4% lower, and the population was 115 million.
Country A produces GDP according to the following equation: GDP = 5√K. The country has a
savings rate of 16.3% and 8.1% of capital depreciates every year. What is this country's steady
state amount of GDP?
Round your final answer to two decimal places.
Suppose a country a real GDP of $175. What will the size of the GDP be after 13 years if the economy grows by 2.6% each year? Round your answer to two digits after the decimal without the dollar sign.
Chapter 7 Solutions
Macroeconomics (Book Only)
Ch. 7.1 - Prob. 1STCh. 7.1 - Prob. 2STCh. 7.2 - Prob. 1STCh. 7.2 - Prob. 2STCh. 7.2 - Prob. 3STCh. 7.4 - Prob. 1STCh. 7.4 - Prob. 2STCh. 7.4 - Prob. 3STCh. 7 - Prob. 1VQPCh. 7 - Prob. 2VQP
Ch. 7 - Prob. 3VQPCh. 7 - Prob. 4VQPCh. 7 - Prob. 5VQPCh. 7 - Prob. 1QPCh. 7 - Prob. 2QPCh. 7 - Prob. 3QPCh. 7 - Prob. 4QPCh. 7 - Prob. 5QPCh. 7 - Prob. 6QPCh. 7 - Prob. 7QPCh. 7 - Prob. 8QPCh. 7 - Prob. 9QPCh. 7 - Prob. 10QPCh. 7 - Prob. 11QPCh. 7 - Prob. 1WNGCh. 7 - Prob. 2WNGCh. 7 - Prob. 3WNGCh. 7 - Prob. 4WNGCh. 7 - Prob. 5WNGCh. 7 - Prob. 6WNGCh. 7 - Prob. 7WNGCh. 7 - Prob. 8WNG
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