Economics  suppose that the GDP of california increases by 8.0% each year. how long will it take for the GDP of California to double? round your answer to one digit after the decimal.   _______years   suppose that the gdp of oregon today is exactly twice what it was 32 years ago. what was the average annual growth for oregon over this time period? round your answer to one digit after the decimal.   _____________% each year.

3 tries left Suppose instead that China's real GDP growth turns out to be 6.9 percent per year for the next decade. By how much will China's real GDP increase then during the entire decade? China's real GDP will increase by Type percent during the entire decade. (Round your response to one decimal place.) Submit

3. The country of Patagonia has produced the following quantity of gauges and potatoes, with the price of each listed in dollar terms. Year 1 Year 1 Year 2 Year 2 Quantity Price Quantity Price Gauges 8,000 $4 10,000 $3 Potatoes 6,000 $8 5,000 $14 (a) Using Year 1 as the base year, what is the growth rate of real GDP from Year 1 to Year 2? (b) Based on the GDP deflator, what is the inflation rate from Year 1 to Year 2?

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Using the economic data below, Which statement is true? Year GDP in Billions GDP Growth Rate Unemployment 5,839 2 5,987 2.5 3. 5,870 -2 6,136 4.3 Year 2 would be described as a Contraction & a Trough O Year 2 would be described as an Expansion only O Year 2 would be described as an Expansion & a Peak Year 2 would be described as a Contraction only

Economics 1B Jan22 Y1 S2 "TOKYO, Aug. 17 (Xinhua) -- Although Japan's economic growth turned positive as shown by the statistics of the second quarter, it remained sluggish due to poor control of the COVID-19 pandemic and persistently weak personal consumption. Japan's real gross domestic product (GDP) inched up 0.3 percent in the second quarter compared to the previous quarter, up 1.3 percent at an annual rate, according to statistics released by the Cabinet Office on Monday. Which of the following is NOT a problem associated with using Gross Domestic Product as a measure of economic performance?" A. Statistics released by the Cabinet Office are often revised as more accurate information becomes available. OB. Transactions being counted more than once. C. Certain transactions that take place in the Japanese economy are not recorded. D. Non-market production Tim Ques Not y Mark PFI.

In a rich country A, the gross domestic product 1 per person is r = 53,000 (US dollars). In a poor country B, the GDP per person is p = 7,000. Suppose that the GDP of country A grows by 5% per year, and that an economic miracle in country B begins to propel a growth of 9% per year. Assume these growth rates are constant. 1) Over how many years does the absolute difference in GDP between rich country A and poor country B increase? 2) How many years does it take for the GDP of country B to exceed that of country A? (Justify your answers.)

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The following information is given for an economy:   Labor Force of an Economy                                                                                                 Number of People (millions) Total population                                                                                      46.5 Children under the age of 16                                                                    8.5 Retirees                                                                                                    7.8 Employed                                                                                                23.9 Unemployed                                                                                              2.5 Not actively seeking employment                                                             3.0 Homemakers                                                                                            0.8   Instructions: Round your answers to one decimal place.…

“Since 1980, aggregate per capita GDP in sub-Saharan Africa has declined at almost 1 percent per annum. The decline has been widespread: 32 countries are poorer now than in 1980. Today, sub-Saharan Africa is the lowest-income region in the world...It is clear that Africa has suffered a chronic failure of economic growth. The problem for analysis is to determine the causes” (Collier and Gunning 1999: ‘Why has Africa grown slowly?’).   Explain the possible reasons why sub-Saharan Africa grew so slowly from 1980- 1999?