Homework Answers
Answer
Option A
decreased
GDP per capita =total GDP/population
total GDP is unchanged as given but the GDP per capita decreases
and it is because of only an increase in the population.
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In a given year, if a country's GDP per capita decreases while total GDP is unchanged,...
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases...
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases at a rate of 4% per year then about how many years will it take for GDP per capita to equal $20,000? 35
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases...
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases at a rate of 5.93% per year then according to the rule of 70 how many years will it take for GDP per capita to equal $20,000? Round to the nearest whole number.
If a country's real GDP per capita declines, this means that the following may have occurred:...
If a country's real GDP per capita declines, this means that the following may have occurred: I. The country has more people and real GDP did not change. Il. Real GDP increased but the population declined III. The country's standard of living is falling O I only. l and Il only. ?Ill only I and Ill only
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate -...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate - Inflation rate - Population growth rateThis equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation...
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate-inflation rate-Population...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate-inflation rate-Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when caloulating this rate. However, the smplified equation is both easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists...
20. In year 0, Country A has a real GDP per capita of $1,200. If Country...
20. In year 0, Country A has a real GDP per capita of $1,200. If Country A grows at a constant rate of 2% per year and Country A's population remains constant, what is Country A's real GDP per capita by year 20? (Round to the nearest dollar.)
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%
According to the rule of 70, if a country's real GDP per capita grows at an annual rate of 5% instead of 7%, it will take how many additional years for that country to double its level of real GDP per capita? (Show Your Work)
(51)Suppose the GDP per capita of Bolivia was equal to US$650 and its GDP was equal...
(51)Suppose the GDP per capita of Bolivia was equal to US$650 and its GDP was equal to US$30 billion in 2019, which of the following represented Bolivia’s population in 2019: (a)10 million (b)8 million (c)More information needed (d)None of the above (52)Which of the following is not a component of aggregate investment expenditures in a country’s GDP: (a)Business investment expenditures (b)Changes in inventories (c)Durable consumption expenditures (d)None of the above (53)The market value of all final goods and services in...
1. At an annual growth rate of 1.75% it will take _______ years for a country's GDP to double
1. At an annual growth rate of 1.75% it will take _______ years for a country's GDP to double. If GDP starts at a value of $100 million, then in 200 years we would expect the value of GDP to be _______ times larger. 2. If nominal GDP is growing at 5% per year, the inflation rate is 2% per year, and population growth is-190 per year then real GDP per capita is growing at _______ percent per year. 3. A country...
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases at a rate of 4% per year then about how many years will it take for GDP per capita to equal $20,000? 35
A country has GDP per capita equal to $5,000. If the country's GDP per capita increases at a rate of 5.93% per year then according to the rule of 70 how many years will it take for GDP per capita to equal $20,000? Round to the nearest whole number.
If a country's real GDP per capita declines, this means that the following may have occurred: I. The country has more people and real GDP did not change. Il. Real GDP increased but the population declined III. The country's standard of living is falling O I only. l and Il only. ?Ill only I and Ill only
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate-inflation rate-Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when caloulating this rate. However, the smplified equation is both easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists...
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