Year 1960 Argentinal 2018 $5,643 Real GDP per 1960 2018 capita real real (2010 GDP GDP dollars) per per capita capita 1980 7,908 ? Percentage of 2000 8,224 ? The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita in 2010 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1980, 2000, and 2018. 10,044 ? ? ? Ci Ghana Real GDP per 1960 capita real (2010 GDP dollars) per Percentage of 881 $1,056 ? 952 capita ? ? 1,807 ? 2018 real GDP per capita ? ? ? 2. South Korea Real GDP per capita (2010 dollars) $944 Percentage of 15.105 1960 real GDP per capita ? 3,700 ? ? 26,762 ? 2018 real GDP per capita ? ? ? ?

Year 1960 Argentinal 2018 $5,643 Real GDP per 1960 2018 capita real real (2010 GDP GDP dollars) per per capita capita 1980 7,908 ? Percentage of 2000 8,224 ? The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita in 2010 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1980, 2000, and 2018. 10,044 ? ? ? Ci Ghana Real GDP per 1960 capita real (2010 GDP dollars) per Percentage of 881 $1,056 ? 952 capita ? ? 1,807 ? 2018 real GDP per capita ? ? ? 2. South Korea Real GDP per capita (2010 dollars) $944 Percentage of 15.105 1960 real GDP per capita ? 3,700 ? ? 26,762 ? 2018 real GDP per capita ? ? ? ?

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 4P

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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.
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?
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. Why have some countries reduced the gap between their incomes andthat of the United States and other countries failed to do so?
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 were able to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
The demographic transition refers to: The increase in fertility rates and the number of children per family that many societies undergo as they transition from urban centers to farmland. а. The increase in fertility rates and the number of children per family that many societies undergo as they transition from rural to urban b. centers. The decrease in fertility rates and the number of children per family that many societies undergo as they transition from rural to urban C. centers. d. The decrease in fertility rates and the number of children per family that many societies undergo as they transition from urban centers to rural locations.
C I G NX Price Yr1 1000 156 560 52 4 Yr2 1300 159 600 52 5 Yr3 2000 169 690 53 6 Yr4 2900 180 880 53 7 Population Yr1 2 Yr2 2 Yr3 3 Yr4 3 Using the information above: State what real GDP per capita will be for all four years. (round to the whole number for all calculations and final answers) State what the change in real GDP per capita will be from year 1 to…
1.3 Using the gravity model calculate the value of trade between country I and J. You can assume: a=b=0.9, c=0.8 and A=0.5The GDP for country I is triple the GDP of country J. Country J GDP is equal to the product of the trading value of all developed countries listed in the given table. The distance between these countries is 28 km.
Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.
Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/ home.aspx) for India, Spain, and South Africa for the most recent year available: â€¢ GDP in constant international dollars or PPP â€¢ Population â€¢ GOP per person in constant international dollars â€¢ Mortality rate, infant (per 1,000 live births) â€¢ Health expenditure per capita (current U.S. dollars) â€¢ Life expectancy at birth, total (years)
Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
Consider the following diagram, which includes a concave line of best fit: 40,000- •US 35,000 - 30,000 - •Belgium Switzerland •UK 25,000 - •Japan 20,000- • •Taiwan 15.000 - 10,000 - •Ecuador 5,000- aindia 0. 10.000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Figure 15 3 Canital ond GDP ner worker across countries in 199n Which of the following statements is correct? Select one: O a. The line of best fit suggests that if capital intensity doubles, output per person doubles. O b. The line of best fit implies that there are diminishing returns to scale. O c. The line of best fit suggests that the USA may have a higher value of "z" than Japan. O d. Workers in Japan were more productive than in the UK because they had higher capital per worker. GDP per worker (1985 PPP $)