Indicate which economy satisfies each of the following statements.StatementAustriaBotswanaHondurasMalayslaVenezuelaZamblaThis economy had the highest level of real income per person in theyear 2010.This economy experienced the fastest rate of growth in real incomeper person from 1960 to 2010,Consider the following list of four economies. Which economy began with a level of real income per person in 1960 that was well below that ofVenezuela and grew fast enough to catch up with and surpass Venezuela's real income per person by 2010?O AustriaHondurasMalaysiaZambia

Economic growth is related to the concept of standard of living. An important measure of economic…

Answered: Indicate which economy satisfies each…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 2P

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An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
What policies can the government of a free-market economy implement to stimulate economic growth?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
If real GDP increases from $100 billion to $105 billion, and the population increases from 100 million to 102 million, what is the grwoth rate of real GDP per person? The growth rate of real GDP person person is ____ percent.
My courses / ECON202-20202 / My Assessments / MIDTERM EXAM If the US has an average growth rate is 2.1% and South Korea has an average growth rate of 5.%, then South Korea is experiencing of O a. a slower economic growth than the US. b. no economic growth. estion O c. the same economic qrowth as the US. O d. a faster economic growth than the US. Next page A Chapter 6 In Class Practice Jump to... eu are logged in as ABDULRAHMAN ALSAEEM (Log out) Copyright © 2020 All Rights Reserved. MacBook Pro @ 2# % & 2 3 4 5 7 8 A E R T Y ض ق そ A S » G H. J K V B i く 6. つつ > *3
QUESTION 10 Consider the scenario given in the table below for two economies, Economy X andEconomy Z. Note that the two economies are identical in every aspect except for their level of productivity (A). A Ko No In ak S Economy X Economy Z 20 15 10 1 0.15 0.3 0.1 10 1 0.15 0.3 0.1 The GDP of economy X in period 10 (i.e., Y10) is equal to (Round your answers to 1 decimal point.)
What is the largest contributing factor to human population growth during the 20th and 21st century? a decrease in birth rates an increase in death rates O a decrease in death rates O an increase in birth rates
The hockey stick of growth shows us O That environmental damage has increased dramatically in the past century That GDP per capita has increased dramatically in the past century O That wealth per capita has increased dramatically in the past century O That inflation per capita has increased dramatically in the past century
Country A is $25,000 and County B is $4,000 per capita GDP in 2010. the rate of economic in county A is 3% and counrty B is 2% 1. uppose the growth rate of A country is constant. How fast does the income gap level($21,000 difference) at this point need to grow to become that income gap level in 2030? 2. Suppose the growth rate of country B is 6%, how many years does it take to bridge the income gap?
How does a tax on interest income influence the economic growth rate? A tax on interest income drives a wedge between the interest rate _______ by borrowers and the interest rate _______ by lenders, which _______ the amount of saving and investment and _______ the economic growth rate. A. received; paid; lowers; slows B. paid; received; increases; increases C. received; paid; increases; increases D. paid; received; lowers; slows Thanks

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