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- Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)12. The rule of 72 says that if something is growing by X% per period then it will double approximately every 72/X periods. The periods could be days, months, years, etc. In late February 2020 about 7,000 people outside of China had been infected with the COVID-19 virus and the number was increasing by 9% per day. If the growth rate stayed the same then how many times would be the number of infections double in the next 64 days? a. 8 times so about 56,000 people would be infected b. 1.125 times so about 15,000 people would be infected c. 1.125 times so about 8,000 people would be infected d. 8 times so about 1.8 million people would be infectedCountry Z INDICATOR NOW 1 YEAR AGO GDP growth rate 3.7% 3.5% Explain if each country is healthy. Click True for Healthy Click False for Not Healthy O True O False
- What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?The world was growing at a constant growth of 0.00007% rate between 100,000 BC and 1750AD. If birth rates per thousand averaged 35 during this period , what was the average death rate in equilibrium. (approximately) A. 31 B. 40 C. 35 D. 30These are the leading causes of population growth:? Poverty? Poor Contraceptive Use? Child Labor? Reduced Mortality Rates? Fertility Treatment? Immigration? Lack of Water? Lower Life Expectancy? War? FamineWhy do you think these are the top 10 causes of population growth? Explain why each of theabove is one of the main causes. You answer must relate to South African examples or atleast developing countries.
- 2. Under what circumstances is rapid population growth beneficial to societies?What is the best way to measure the rate of economics growth? a. By the annual percentage change in nominal GDP O b. By the annual percentage change in nominal GDP per capita O c. O d. By the annual percentage change in real GDP By the annual percentage change in real GNP per capita Oe. None of the aboveWhat 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
- Write out the equation for output growth with capital, labor and total factor productivityas determinants of growth. Suppose that the shares of capital and labor are respectively0 .3 and 0.7. If labor supply grows by 10% what would be the growth rate of outputassuming that there is no change in the other determinants? What would happen to percapita output if labor supply growth is entirely due to population growth?The populations of Towns A, B, and C vary exponentially with respect to time. a. The population of Town A increases by 46% every 13 ycars. What is the annual percent change in the population of Town A? It% Preview b. The population of Town B decreases by 25% every 7 years. What is the annual percent change in the population of Town B? % Preview c. The population of Town C triples every 8 years. What is the annual percent change in the population of Town C? *% PreviewUnit 3.5 HOMEWORK Future Growth DATA ANALYSIS POPULATION GROWTH THROUGH NATURAL INCREASE, 1775.200 Less developed countries More developed countries 50 Birth rate 40 Birth rate Natural increase Natural increase 30 Death rate Death rate 10 Source: Population Reference Bureau. Study the two Graphs above and respond to the questions below: 1. What were the levels of birth and death rates in less developed countries and in more developed countries in 1775? eno 2. Describe how the birth and death rates in the less developed and more developed countries changed from 1775 to 2000. Rate per 1,000 people 1775 008 1825 1850 1875 0061 1925 1950 0007 1775 0081 1825 1850 1875 0061 1925 1950 1975 0007