ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- The economy's real GDP was $160 billion in 2019 and $280 billion in 2020. Its population was 15 million in 2019 and 20 million in 2020. What is the growth rate of real GDP per capital from 2019 to 2020?arrow_forwardSuppose a country a real GDP of $159. What will the size of the GDP be after 14 years if the economy grows by 4.8% each year? Round your answer to two digits after the decimal without the dollar sign.arrow_forwardIf GDP is currently $300 and the growth rate is 5 percent, how many years will it take for GDP to reach 382.88? Round to the nearest whole number.arrow_forward
- In 2017, the GDP of Brazil was $5100. In 2018, the GDP of Brazil was $11800. a. What is the growth rate for the Brazilian economy?arrow_forwardBrazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s population was 195 million in 2011 and 196.5 million in 2012. Calculate a. The growth rate of real GDP b. The growth rate of real GDP per person c. The approximate number of years it takes for real GDP per person to double when the real GDP growth rate and the population growth rate are maintained.arrow_forwardWhat will happen to the annual rate of growth of per capita real Gross Domestic Product (GDP) if the annual rate of population growth increases and the annual rate of growth of real GDP goes down?arrow_forward
- If a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately ________. Answer to 2 decimal places.arrow_forwardExplain what policies can a government undertake to achieve faster economic growth?arrow_forwardIn 2008, the GDP of France was $7900. Suppose that France has a growth rate of 2%. a. What is France's GDP after 2 years b. What is France's GDP after 6 yearsarrow_forward
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