Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 19, Problem 32P
In 1980, Denmark had a
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Chapter 19 Solutions
Principles of Economics 2e
Ch. 19 - Country A has export sales of 20 billion,...Ch. 19 - Which of the following are included in GDP, and...Ch. 19 - Using data from Table 19.5 how much of the nominal...Ch. 19 - Without looking at Table 19.7, return to Figure...Ch. 19 - According to Table 19.7, how often have recessions...Ch. 19 - According to Table 19.7, how long has the average...Ch. 19 - According to Table 19.7, how long has the average...Ch. 19 - Is it possible for GDP to rise while at the same...Ch. 19 - The Central African Republic has a GDP of...Ch. 19 - Explain briefly whether each of the following...
Ch. 19 - What are the main components of measuring GDP with...Ch. 19 - What are the main components of measuring GDP with...Ch. 19 - Would you usually expect GDP as measured by what...Ch. 19 - Why must you avoid double counting when measuring...Ch. 19 - What is the difference between a series of...Ch. 19 - How do you convert a series of nominal economic...Ch. 19 - What are typical GDP patterns for a high-income...Ch. 19 - What are the two main difficulties that arise in...Ch. 19 - List some of the reasons why economists should not...Ch. 19 - U.S. macroeconomic data are among the best in the...Ch. 19 - What does GDP not tell us about the economy?Ch. 19 - Should people typically pay more attention to...Ch. 19 - Why do you suppose that U.S. GDP is so much higher...Ch. 19 - Why do you think that GDP does not grow at a...Ch. 19 - Cross country comparisons of GDP per capita...Ch. 19 - Why might per capita GDP be only an imperfect...Ch. 19 - How might you measure a green GDP?Ch. 19 - Last year, a small nation with abundant forests...Ch. 19 - The prime interest rate is the rate that banks...Ch. 19 - A mortgage 105m is a loan that a person makes to...Ch. 19 - Ethiopia has a GDP of 8 billion (measured in U.S....Ch. 19 - In 1980, Denmark had a GDP of 70 billion (measured...Ch. 19 - The Czech Republic has 3 GDP of 1,800 billion...
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- In 1980, Denmark had a GDP of $90 billion (measured in US dollars) and a population of 6.1 million. In 2000, Denmark had a GDP of $150 billion (measured in US dollars) and a population of 6.2 million. By what percentage did Denmark's GDP per capita rise between 1980 and 2000? Question 23 options: 205% 144% 64% 120%arrow_forwardIf the following is true, what is the nations GDP? Consumption 7.9 billion Government Spending 6.1 billion Exports 10 billion Imports 9 billion Investment 4.5 billion $19.5 billion $37.5 billion $17.5 billionarrow_forwardIn your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being of a nation?arrow_forward
- South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. Ecuador has a GDP of $12 billion (measured in U.S. dollars) and a population of 4.5 million. Calculate per capita GDP for each country. Question 24 options: South Africa = $222.22; Ecuador = $2,666.67 South Africa = $22.22; Ecuador = $266.67 South Africa = $2222.22; Ecuador = $26,666.67 South Africa = $22.22; Ecuador = $2,666.67arrow_forwardWhat can you say about Turkey in the average GDP growth for the next 3 years (2021-2023)?arrow_forward1arrow_forward
- Consider the following data for country A: Population (millions) Real GDP Country ($ billions) 50 A Calculate per capita real GDP (Enter your response rounded to the nearest integer.) Suppose that during the next 10 years, real GDP triples and population doubles in country A. What will per capita real GDP after 10 years have passed? (Enter your response rounded to the nearest integer.) $.arrow_forwardWhat is GDP per capita and why is it useful in measuring differences in living standards between different countries?arrow_forwardUse the data for the country of New Finlandia in the following table to calculate the following: REAL GDP PER CAPITA (2005 PRICES) $41,603 YEAR 2010 2011 2012 42,933 42,416 2013 2014 43,311 43,246 (HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of those years.) a. The percentage increase in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.) b. The average annual growth rate in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)arrow_forward
- Explain why GDP per capita comparison among nations are not a perfect measure of differences in economic well-being. (Hint: there are four problems with using GDP per capita to compare rich versus poor countries)arrow_forwardCountry A has a GDP of $300 billion and a population of 10 million, while country B has a GDP of $3 trillion and a population of 200 million. The per capitia in the country A and Country B are?arrow_forwardHomework 5.6 While both India and China have grown tremendously over the last few decades, China appears to have clearly grown more impressively. See the GDP of the two countries in 1990 India GDP of $326 billion, China GDP of $358 billion By 2015, China’s GDP grew to $10.8 trillion India’s GDP grew to $2.07 trillion2 China’s growth > 33%, whereas India’s is > 6% The World Bank suggests that 800 million people have also moved out of poverty in China. The poverty rate fell from 88% of the population in 1981 to just above 4% of the population in 2014. India, cut its poverty level from 60% to 30% of its population between 1981 and 2012. However, the population also increased, so the overall decline in poverty was from 429 million to 400 million.. The growth of China and its effects on its population is visible. The rise of a middle class has turned China into a marketer's dream as a huge 'market' for all products such as automobiles. Question: What reasons can be you attribute for…arrow_forward
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