"Given the rate at which scientists are making new discoveries, we will soon reach the point that no further discoveries can be made. Economic growth will come to a stop.” Do you believe this to be an accurate statement? If so, why? If not, why?

Q: Population growth prior to the 1900s was limited by what? What is the world’s population today and…

A: 1)Prior to 1900,there was not much advancement in medical technology,therefore deaths would be more…

Q: Which institutional design would you say is more suitable for economic growth: a majoritarian or a…

A: Economic Growth: Economic growth occurs when the production of goods and services increases as…

Q: If Japan has 4.5% per capita growth in GDP, how many years will it take for the country to triple…

A: Growth rate formula:  If  X is any economic variable and  Xt is the initial value of x and Xt+n is…

Q: Which of the following is a true statement? Multiple Choice Economists who support economic growth…

A: Economic growth is generally defined as an increase in the real GDP of a country over a period of…

Q: Which of the following two countries A and B ceteris paribus do you expect to have the higher…

A: A - Country A will have higher level of GDP growth because it features a higher GDP per capita

Q: Civil Conflict = 0.27 - 0.38GDP Growth Rate compute the change in the probability of a country…

A: We are going to find out the change in probability of Civic conflict with respect to the change in…

Q: Which of the following would you say is the more important determinant of strong economic growth –…

A: Nations with rich endowments of natural resources are ordinarily more affluent and ready to create a…

Q: why would removing a trade restriction,such as a tariff , lead to more rapid economic growth?

A: The trade is, in some ways, a type of technology that can stimulate the same kind of economic growth…

Q: where do we stand in the life cycles of civilizations? Please explain. what direction in the life…

A: (A) Many civilizations lasted around 250 years. approx 10 generations and so on, and all…

Q: Assume that a leader country has real GDP per capita of $80,000, whereas a follower country has real…

A: The growth rate of real GDP (Gross Domestic Product) is a measure that quantifies the percentage…

Q: Economic growth means an increase in the ability of an economy capable to produce goods and…

A: Economic growth and development are the major goals of every country.

Q: Some resource-rich countries have succeeded in converting resource wealth into longterm and…

A: Economic development refers to the sustained, long-term growth of an economy, usually accompanied by…

Q: According to the rule of 72,if the economy of the United Apex Emirates will double in 52 years, at…

A: The rule of 72 is an approximation to figure out doubling time required by an economy with a certain…

Q: Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5000. However,…

A: The term "gross domestic product" (GDP) refers to the production of goods and services at a specific…

Q: What are the advantages of Endogenous growth theories?

A: Endogenous Growth Model Endogenous Growth Model explains that the factors determining economic…

Q: Cite an example of how governments can affect economic growth.

A: Economic growth is the process through which the final commodities and services produced by the…

Q: Describe the difference between human capital and technological knowledge in terms of workers’…

A: Human capital is defined as the required skills, expertise, knowledge, and experience that an…

Q: how does endogenous growth theory explain economic growth

A: Neoclassical growth model: - Neoclassical growth model was first given by Robert Solow and Trevor…

Q: True or False and Explain your answer. The following table shows average annual growth rates of…

A: The following table shows average annual growth rates of output per worker and factors of production…

Q: Why might the Coronavirus pandemic cause slowed economic growth?

A: Economic growth is influenced by economic variables that have direct or indirect relationship with…

Q: What immediate consequence does an increase in education have in the endogenous growth model with…

A: Human capital refers to the knowledge, skills, and abilities of a population that can be used to…

Q: would deregulation and privatization as well as increased competition be likely to increase mexico…

A: The privatization is the process of transferring the ownership of the public sector enterprises into…

Q: Let's explore what happens to the size of a population when it overshoots its carrying capacity.…

A: Population growth is the increase in the number of human beings present on earth. The carrying…

Q: GDP per capita is one way to measure an economy's growth. China and India began to progress when…

A: Both china and India allowed private partnership at the same time

Q: Economic growth is: an expansion of production possibilities an increase in the population…

A: Economic growth is a concept in economics that refers to an increase in the output that an economy…

Q: Real GDP per capita in the country of Arcadia grew from about $4,666 in 1900 to about $42,069 in…

A: The situation in which the overall flow of products and goods is calculated in the domestic market…

Q: If country A’s and country B’s GDP per capita are $10,000 and $5,000 this year, respectively.…

A: Ans. ) Given in the question, there are two countries, A and B. Also, it is given that country A's…

Q: Explain how each of the three conditions Smith describes would promote economic growth

A: Peace would promote economic growth as it is an indication of respect to property rights. Violence,…

Q: What were other sources of economic growth besides slavery?

A: Economic Growth is the increase in the output or production of goods and services in the country…

Q: you are appointed by a congressional task force to recommend at least two economic policies that…

A: To enhance the long term economic growth, one can use the expansionary monetary and fiscal policies.…

Q: A positive correlation between per capita income and urbanization rate across countries in the world…

A: The argument that often goes in the favor of urbanization and its positive affect on economic growth…

Q: In 1960, per-capita GDP in Japan was 1/3 of that in the UK. By 1990, Japan and the UK had equal GDP…

A: Following formulas are used, Total growth rate of per capita GDP = Average growth rate of per capita…

Q: Nigeria's average real GDP per capita growth from 1961 to 2019 is 2.4%.  Using the Rule of 70,…

A: Real GDP measures the value of goods and services using constant sets of prices.

Q: Question: Which of the following statement(s) will be the most persuasive for Ben to encourage him…

A: Ben is faced with a decision of whether to accept a promotion that involves moving to Lagos,…

Q: The key distinction between the views of Thomas Malthus and Esther Boserup on the relation between…

A: Technological innovation refers to the creation, development, and implementation of new or improved…

Q: Education, power, and technology can impact a country's prosperity. Discuss several factors that…

A: Education plays a crucial role in shaping a country's prosperity. A well-educated workforce is…

Q: 2. Choose 1 country from Latin America, or Africa, or Asia. Find its birth (fertility) rate, death…

A: The birth rate of a country is a very important indicator along with the mortality and the…

Q: Explain the different ways in which inequality can affect growth. Highlight any existing empirical…

A: Inequality refers to an economic phenomenon under which there exists unequal distribution of…

Q: In the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 %…

A: Gross Domestic Products defined as the total of market values of al final goods and service. GDP…