a. Democratic Republic of Congo: population growth = 2.7 percent; real output growth = - 1.5 percent.     %.         b. Estonia: population growth = - 0.5 percent; real output growth = 4.4 percent.     %.         c. India: population growth = 2.2 percent; real output growth = 6.3 percent.     %.        d. United States: population growth = 0.6 percent; real output growth = 2.7 percent.

Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao, Solow mentioned, technology (At) and capital per unit of effective labor (Kt) have a significant influence on a country's ability to “catch-up” or “converge” to a steady-state level (K*). In brief define what it means by a steady-state level.

You learned that convergence is a pattern in which economies with low per capita income grows faster than economies with high per capita incomes. In this context, there are arguments pro and against convergence. Based on the figure below, choose the correct answer for the blanks: Technology 3 Technology 2 Output per Capita G₁ G₂ G₁ R S T V W Technology 1 C₁ C₂ C₂ Capital (physical and human) Capital deepening and new technology text only. One of the arguments that favors convergence is based on the idea of the diminishing marginal returns of capital deepening that is illustrated when the economy moved from point R to point U to point W However, the argument that convergence is neither inevitable nor likely argues that the development of new technologies can sidestep the diminishing marginal returns of capital deepening, so that the economy could move from point U to W from point S to point T , and then

The table below lists GDP and GDP growth rates for the countries of Cortania, Microtania, and Boxtown. Fill in the final column, which asks for the GDP in each country 13 years later. Country GDP in $ billions GDP annual growth rate (%) Cortania Microtania Boxtown 10600.00 44000.00 48100.00 3 2 4.5 Gl