Microeconomics (MindTap Course List)
10th Edition
ISBN: 9781285859484
Author: William Boyes, Michael Melvin
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 19, Problem 5E
To determine
To find:
The time taken by each country to double its growth rate if the growth rate of one country is 3% and of another is 8%. The factors contributing to the nation's growth rate should also be explained.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Demographers have been surprised that total fertility rates have fallen below 2.0, especially because most people in most countries tell pollsters that they would like to have at least two children. Can you think of any possible economic factors that may be causing women in so many countries to average fewer than two children per lifetime? What about other social or political changes?
Why is the world growing so rapidly?
How does economic growth reduce poverty?
Chapter 19 Solutions
Microeconomics (MindTap Course List)
Knowledge Booster
Similar questions
- What does productivity growth has to do with economics?arrow_forwardWhy might high levels of inequality lead to lower rates of growth and development? Why might it be difficult to get out of this kind of trap?arrow_forwardWhy do poorer societies have higher population growth rates than wealthier societies? How does poverty affect the environment? How does affluence affect the environment?arrow_forward
- An increase in the number of verities of intermediate goods imported leads to a growth effect in Y*t. True or False? Why?arrow_forwardIn Chapter 11, Tietenberg and Lewis note that market imperfections are a major cause of unsustainable development. What are some examples of market imperfections that hamper efforts to achieve sustainable development? Do such imperfections always lead to unsustainable outcomes? What are some economic incentive policies that might facilitate a transition from unsustainable to sustainable activities?arrow_forwardGovernor Mitch Daniels advocates that the government intervene less in business to promote jobs and ultimately economic growth. Instead, he argues to have government put factors in place that promote job growth such as lower taxes and more infrastructure. Is this an appropriate method to promote growth? Are there alternatives where the government can intervene that are more efficient than the market?arrow_forward
- Education seems to be important for human capital deepening and thus economic growth. As people become better educated and more knowledgeable, are there limits to how much additional benefit more education can provide? Why or why not?arrow_forwardWhy Are the Factors of Production Important to Economic Growth?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning