Why might we expect real GDP per capita in California and Pennsylvania to exhibit convergence but not in California and Baja California, a state of Mexico that borders the United States? What changes would allow California and Baja California to converge?

Q: Dictionopolis has a real GDP per capita of $5,000, which is growing at 10 percent per year. Sitara…

A: Real GDP (Gross Domestic Product) per capita is a measure used to evaluate a country's economic…

Q: (5) GDP grows at 4 percent per year in Afghanistan and at 2 percent per year in Iraq. In 2016, GDP…

A: We are given that, GDP growth in Country A = 4%GDP growth in Country I = 2% In 2016, the GDP for…

Q: In 2000 GDP per capita was 18.3, capital/output was 3.3, human capital was 4.8. In 2010 GDP per…

A: The relationship between production output and production inputs is represented by a Cobb-Douglas…

Q: Output per Hour % Growth Productivity 2008 2018 Country A $48 35 3 0.60 $40 Country B 25 Country C 2…

A:

Q: There are two countries in the world: Happytimes and Treehausland. Both countries currently have a…

A: Happytimes's GDP = Current GDP(1 + Growth rate)^15                               = 1*(1 + 0.086)^15…

Q: The following table shows real GDP per capita for Canada, Taiwan, and Chad between 1970 and 2000.…

A: Real GDP -  is an adjusted GDP of inflation prices in contrast to nominal GDP. it is calculated by…

Q: Consider the following data for country A: Population (millions) Real GDP Country ($ billions) 50…

A: The gross domestic product(GDP) of an economy is defined as the market value of all final…

Q: Assume we have two economies. Economy A has a level of GDP per capita of Ya(0) which is higher than…

A: Gross domestic product (GDP) per capita is a measure of a nation's economic output per person and is…

Q: What question is Convergence Theory attempting to answer? What is Convergence Theory?  Make sure…

A: The following problem related to convergence theory has been answered as follows:

Q: Covid-19 on Pakistan’s economy

A: Covid-19 disease or Corona virus has affected the Global economy. Pakistani economy is one of the…

Q: What is the terms-of-trade effect of growth? What is the wealth effect of growth? How can we measure…

A: Learn the Concepts1. The Growth Terms of Trade Effect: The terms of trade refer to the ratio of…

Q: Botswana’s population grew by 3.5 percent per year, 1970–80, and by 3.4 percent, 1980–93, while…

A: A standard of living is the level of wealth, comfort, material products, and necessities available…

Q: China's economic development has been an unprecedented growth miracle in recent human history. Över…

A: Sino-American trade war was caused due to American president Donald Trumps policy of putting heavy…

Q: Are nations with large underground economies likely to be happier or unhappier than one would…

A: Underground Economies are defined as economies that are parallel or shadow economies which include…

Q: Indicate whether each of the following statements is true or false. a. Country A's labor share is…

A: Labor share and its growth depends on the technological growth and capital. Higher capital leads to…

Q: Which of the following statements is correct? World economic growth was near zero from ADI until…

A: World economic growth shows the gross domestic product of all the economies globally in a nutshell.…

Q: Why did Vietnam experience a low economic growth rate in the decade after the end of the Vietnam…

A: The U.S. economy suffered significantly from the War In Vietnam. President Lyndon Johnson started an…

Q: Real GDP per capita in the country of Arcadia grew from about $4,703 in 1900 to about $42,731 in…

A: The term gross domestic product refers to the situation under which the overall flow of products and…

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: Suppose China’s GDP is growing by 7% a year and its population grows by 1% a year. Also suppose that…

A: Gross domestic product (GDP) is the standard measure of the value added created through the…

Q: Suppose that in the year 2020 there are two different countries - Sparta and Rome each with a real…

A: Real gross domestic product (real GDP) is an inflation-adjusted measure of an economy's output of…

Q: Between 1970 and 2005, China’s GDP per capita grew at an average rate of 7.3% per year while GDP…

A: GDP per capita is an economic metric to ascertain the economic output per person. It is an indicator…

Q: Real GDP per capita is 49,773 (measured in constant 2017 International Dollar, same for the…

A: The objective of the question is to decompose the differences in real GDP per capita between Canada…

Q: Average Average Countr 1820 1870 1920 1970 2010 growth growth (1820- (1920- 2010) 2010) United 1.65…

A: Growth of every country from 1820 to 2010 has been shown in the table below..

Q: You learned that convergence is a pattern in which economies with low per capita income grows faster…

A: At first we are in technology 1, So when Diminishing marginal returns to capital deepening works,…

Q: Apply the gravity model to India and China. Why has it taken so long for India and China to become…

A: 1. Between 2014-15 and 2019-20, India's economic relationship with China has been characterised by…

Q: population growth

A: Population growth refers to the rate at which the hard work pressure in a financial system expands…

Q: 1) Complete the table. Please note that the world price of T in terms of S is 1,2 and GDP calculated…

A: The GDP is an indicator of a nation's economic production during a given time frame, often one year.…

Q: • Global economic recovery supports a moderate increase in China’s exports. • China benefits from a…

A: In first case the global economic recovery supporting increase in China’s exports will move its…

Q: Which GDP result (current or constant) is more appropriate for comparative purpose with other…

A: Gross Domestic Product (GDP) measures the market value of final goods and services produced by an…

Q: The following table shows the GDP per capita since 1820 in selected countries (in PPP-adjusted 2005…

A: Gross Domestic Product or GDP is a statistical measure used to calculate the total money value of…

Q: Consider two economies that spend different shares of their gross domestic product to R&D…

A: The funding of R&D is only part of what the government can do to foster innovation. Government…

Q: China had about same per capita GDP as that of India in 1970s. In the intervening decades, per…

A: Government uses fiscal policy to increase economic activities by increasing aggregate demand. Now…

Q: The following table shows real GDP per hour of work in four imaginary countries in the years 2008…

A: Convergence refers to the situation where all the economy converge in terms of per capita income…

Q: Looking at the actual Comparative GDP of the Philippines in Figure 1 (Above figure), how would you…

A: Period Growth rates(%) Q1 2018-19 5.7 Q2 2018-19 5.4 Q3 2018-19 6.3 Q4 2018-19 6.7 Q1…