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. Table 3-1a. Growth of Per Capita GDP, Population and GDP: World and Major Regions, 1000–1998(annual average compound growth rates)1000-1500 1500-18201820-70 1870-1913 1913-501950-73(1973-98Per capita GDP1.78T.942.343.540.99-1.100.011.330.951.42Westem EuropeWestem OffhootsJapanAsia (exduding Japan)"Lain AmericaEastem Europe & former USSRAfricaWorld0.13• 0.004.080.150.341321.810.761.550.898.052.922.521.480.381.81• 1.150.641.30.0.030.090.190.050.000.15-0.11-0.020.010.04-0.010.050.100.640.120.531.421.50.3.492.072.930.100.010.051.020.91Populabon0.321.020.70(1551.152.19Westem EuropeWestem OffshootsJapanAsia (excluding Japan)Latin AmericaEastem Europe & former USSRAfricaWorld0.16.0.070.14.0.090.090.16.0.260.430.220.290.060.692.870.210.151.270.772.070.950.551.641.210.750.421.251.310.611.862.010.542.731.660.921.972.73• 0.341.65- 0.931312.331.920.34.0.870.150.270.400.400.070.100.80GDP/1.654.330.412.112.982.975.46.3.02-0.562.743.012.10Westem EuropeWestern Offshoots- JapanAsia (excluding Japan)- Latin AmericaEastern Europe & former USSRAfricaWorld4.814.039.29.5.185.334.844.450.300.070.180.411.190.78*0.313.922812,21 .0.903.431.842.691.852.440.130.090.200.060.150.290.210.440.160.320.031.370.943,482.371.402.111.520.520,934.91SourceAppendices A and B. .Table 3-1b. Levels of Per Capita GDP and Interregional Spreads, 1000-19981990 international dollar).· 1000--15001820 -187019131950197319981 2321 2016695753 4735 257 .138764015111 501• 58515101 9742 43173711 53416 172(Western EuropeWestern OffshootsJapanAsia (exduding Japan).Latin AmericaEastem Europe & former USSRAfricaWorldInterregional Spreads4004004254504004004164351.1:17744005005724164834005652:14 5949 2881 9266352 5542 60117 92126 14620 4132 9365 7954 3541 368-5 70919:111 4391 2314 5315436656674186673:16989175.7291 3654448675:185221144 10413:1

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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer all the questions below with a detailed and 100% correct solution.
What information does this fact give us about the growth rates of other variables?