Assume that a leader country has real GDP per capita of $80,000, whereas a follower country has real GDP per capita of $40,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 5 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country? Instructions: Enter your answer as a whole number. years

2. Choose 1 country from Latin America, or Africa, or Asia. Find its birth (fertility) rate, death (mortality) rate, and population growth rate in 2021 or 2022. (You can use any source of information but make sure you mention this source in your answer.) Based on the information you find; calculate how many years will it take for this country to double its population.

The developed country has a savings rate of 30% and a population growth rate of 2% per year. Meanwhile, the developing country has a savings rate of 15% and population growth rate of 5% a year. Technology evolves at the rate of 8% and 2% in the developed and developing countries respectively. In both countries, δ = 0.05. Find the steady-state value of y for each country (up to three decimal places).

Suppose Egypt has a real GDP per capita of $28,000. If real GDP per capita grows at a 3.5% annual rate, how long will it take for real GDP per capita to reach $70,000 in Egypt?

Comment on the following statement: The level and growth rate of real GDP per capita can be a misleading indicator of development. At the same time, countries that experience sustained increases in real GDP per capita over time will tend to be more developed

Use the Solow model with exogenous growth to answer the following.Q 3.1: Following a reduction in the population growth rate, output per worker growth permanently increases. True or False   Q 3.2: Following a reduction in the population growth rate, output per worker growth permanently increases. True or False   Q 3.3: The only way to increase the long-run growth rate of output per worker is to increase the growth rate of labor efficiency.   True or False   Q 3.4:   Following a decrease in TFP, output per worker growth temporarily declines.   True or False

Answer the following options Q#9) What has been true about the long term growth rate and growth path followed             by the advanced nations since 1750 – the dawn of the “industrial revolution”?   (a)  GDP growth has been modest, continuing the same trend from previous eras  (b)  GDP growth has increased enormously due to technical advances     Q#10)  When the government takes the lead and pro-actively guides, supports and           fosters technology advances and innovation, such as with the Internet, in aero-          space (NASA) or Covid19 vaccines, which theory of economic growth is utilized? (a)  Neo-Classical Theory        (b)  Classical Theory         (c)  New Growth Theory

An underdeveloped country is a country characterized by chronic widespread poverty and less economic development than other nations. Emerging markets, developing countries, and newly industrialized countries are terms that are often used interchangeably for an underdeveloped country. These countries have very low per capita income and many residents live in very poor conditions, including lacking access to education and health care. Additionally, underdeveloped countries have obsolete methods of production and social organization. These nations often experience high birth rates and high population growth, further contributing to their widespread poverty. The most accurate way to categorize the development of countries is by using the Human Development Index (HDI). The Human Development index looks at each country’s human development such as life expectancy, education, and per capita income indicators. Human Development Index ranks countries on a scale from 0-1, from least developed to…

Why did the average GDP growth rate declined in Western Europe during the period of 1913- 1950 comparing to the period 1870-1913. Start you answer by quoting the GDP growth rates (not GDP per capita growth rates) from the Madison table.

Consider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of $10,000 and experienced a growth rate of 10%, while Country B had a per capita GDP of $40,000 and experienced a growth rate of 2%. Assuming that the growth rates remain unchanged, which country will have a higher per capita GDP when t = 35 time periods (years)? O Country B O Country A O All of these choices are correct. They are the same