Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 25, Problem 2IAPA
To determine
To compute:
The year in which the real GDP would be twice of what it was in 2006 provided the growth rates continue.
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Use the following information to work Problems 1 and 2. China’s growth rate of real GDP in 2005 and 2006 was 10.5 percent a year and its population growth rate was 0.5 percent a year.
1. If these growth rates continue, in what year would real GDP be twice what it was in 2006? If these growth rates continue, in what year would real GDP per person be twice what it was in 2006?
2. You are a manager at a large shampoo company and on the search for future
markets. You identified two low income countries that look very dynamic:
Country A has a GDP/capita growth rate of -1% and population growth
rate of 9%. Country B has a GDP/capita growth rate of 7% and constant
population.
(a) Discuss which country you should focus on for your expansion.
(b) Discuss if your answer would change if the products you are trying to
sell are cars.
The table gives data on an economy's real GDP and population in 2019 and 2020.
If the current real GDP growth rate and population growth rate are maintained, real GDP per person will double in approximately ____ years
Answer with a whole number
Chapter 25 Solutions
Foundations of Economics (8th Edition)
Ch. 25 - Prob. 1SPPACh. 25 - Prob. 2SPPACh. 25 - Prob. 3SPPACh. 25 - Prob. 4SPPACh. 25 - Prob. 5SPPACh. 25 - Prob. 6SPPACh. 25 - Prob. 7SPPACh. 25 - Prob. 8SPPACh. 25 - Prob. 9SPPACh. 25 - Prob. 10SPPA
Ch. 25 - Prob. 11SPPACh. 25 - Prob. 12SPPACh. 25 - Prob. 1IAPACh. 25 - Prob. 2IAPACh. 25 - Prob. 3IAPACh. 25 - Prob. 4IAPACh. 25 - Prob. 5IAPACh. 25 - Prob. 6IAPACh. 25 - Prob. 7IAPACh. 25 - Prob. 8IAPACh. 25 - Prob. 9IAPACh. 25 - Prob. 10IAPACh. 25 - Prob. 1MCQCh. 25 - Prob. 2MCQCh. 25 - Prob. 3MCQCh. 25 - Prob. 4MCQCh. 25 - Prob. 5MCQCh. 25 - Prob. 6MCQCh. 25 - Prob. 7MCQCh. 25 - Prob. 8MCQ
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