In 2018, the U.S. GDP was approximately $ 2.5 trillion. However, India is growing faster than the U.S. a. If the U.S. economy grows at 3% per year, in what year will the U.S. GDP double to $40 trillion? (Hint—use the Rule of 70). b. If India’s economy grows at 7% per year, in what year will its GDP double to $ 5 trillion

1. Which of the components of GDP must increase if we are to experience greater rates of economic growth? Why?   2. *Is GDP a good measure of national well-being? Explain.

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

Suppose that work hours in New Zombie are 200 in year 1 and productivity is $12 per hour worked. Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is New Zombie's real GDP? $ b. If work hours increase to 210 in year 2 and productivity rises to $14 per hour, what is New Zombie's rate of economic growth? percent

K An island economy produces only bananas and coconuts. The table gives the quantities produced and prices in 2018 and 2019. If the base year is 2019, compare the growth rates of nominal GDP and real GDP. >>> Answer to 1 decimal place. The growth rate of nominal GDP in 2019 is 26.4 percent. The growth rate of real GDP in 2019 using the chained-dollar method is percent. In 2018 Item Bananas Coconuts In 2019 Item Bananas Coconuts Quantity 95 bunches 60 bags Quantity 112 bunches 68 bags Price $7 a bunch $12 a bag Price $12 a bunch $6 a bag

C                      I                         G                               NX              Price                                                              Yr1                               1000                   156                     560                           52                    4   Yr2                                1300                  159                     600                           52                    5   Yr3                                 2000                  169                    690                           53                   6   Yr4                               2900                   180                     880                           53                    7   -What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers) -State how long it will take for real GDP to double in size.

Course: Macroeconomics Find GDP per capita when the population is 1 billion and GDP is $3 trillion.

The GDP in China is $12.2 trillion. The rate of inflation is 2.5%. If the population of China is 1,421,021,000, find the per capita GDP in this country. per capita GDP = $ [?] Round to the nearest hundredth. CHID Enter 123 11/25/20

In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in U.S. dollars). India was also one of the world’s fastest-growing economies, with an annual growth rate of real GDP of 7.3%. a. If the country maintains the same growth rate, how many years will it take for India’s GDP to double? b. Bangladesh’s GDP was $286.27 billion, but its growth rate was equal to India’s. How many years will it take for Bangladesh’s economy to double? c. Although Bangladesh and India have the same annual growth rate, their economies are much different in size. How can you explain the size difference to someone who is unfamiliar with scaling large numbers? Which strategies would you use?

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