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Explain why a policy mix would result in growth in
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- For a high-income economy like the United States, what element of the aggregate production function are most important in bringing about growth in per capita GDP? What about the middle-income country such as Brazil? A low-income country such as Niger?Explain the role of macroeconomic policies in achieving the macroeconomic goals of a countryIs it possible for GDP to rise while at the same time per capita GDP is falling? Is it possible for GDP to fall while per capita GDP is rising?
- If GDP is $20 trillion, how many years will it take for GDP to increase to $160 trillion if annual growth is 10 percent?If output rises by 35 percent while hours of work increase by 40 percent, has productivity increased or decreased? By how much?Many of the expansionary periods during the twentieth century occured during wars. Why do you think this is true?
- True or false? Consider two economies that spend different shares of their gross domestic product to R&D activities. Is it true that the economy with a larger share of R&D spending grows faster in the long-run?An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677 billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. growth rate:Go to a recent issue of The Economist magazine. In the back of each issue is a section called “economic indicators.” That section lists the most recent growth data for a substantial number of countries. Which countries around the world are growing most rapidly according to the most recent data? Which countries around the world are growing more slowly? Flip through the stories in The Economist to see if there is any explanation for the pattern that you observe. Write a brief essay on current general economic conditions around the world.