Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Question
Chapter 22, Problem 4TY
To determine
The potential GDP in Country A and Country B.
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Calculate real growth per capita in the following countries:
Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative
sign (-) in front of the number.
a. Democratic Republic of Congo: population growth=2.6 percent; real output growth = -1.4 percent.
Real growth per capita:%
b. Estonia: population growth=-0.3 percent; real output growth 4.3 percent.
Real growth per capita: %
c. India: population growth = 2.1 percent; real output growth 6.2 percent.
Real growth per capita: %
d. United States: population growth = 0.4 percent; real output growth 2.6 percent.
Real growth per capita:
%
List the factors that account for increases or decreases in productivity growth rates.
Which of the following is NOT a reason why middle-income countries in the east have experienced rapid growth rates?
Group of answer choices
The countries developed abundant new technologies which drove growth
These countries had a strong policy structure that supported human capital investments
These countries encouraged participation in the world markets
These countries accrued larger savings and invested it domestically
Chapter 22 Solutions
Economics: Principles & Policy
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Similar questions
- Identify one developed and one developing country. Research their recent economic growth rates. Analyze differences in the countries that would help lead to different rates of economic growth. In your response, be sure to avoid analyzing short-run factors of economic performance and focus on the factors that affect long-run economic growth.arrow_forwardConsider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of $10,000 and experienced a growth rate of 10%, while Country B had a per capita GDP of $40,000 and experienced a growth rate of 2%. Assuming that the growth rates remain unchanged, which country will have a higher per capita GDP when t = 35 time periods (years)? O Country B O Country A O All of these choices are correct. They are the samearrow_forward
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