Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 25, Problem 8IAPA
To determine
To explain:
The disconnection between the technology advancement explained in the news clips and the speed of real GDP growth.
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Consider the following table displaying annual growth rates for nations X, Y, and Z, each of which entered 2020 with real per capita GDP equal to $20,000. Annual Growth Rate (%) Country 2020 2021 2022 2023 X 7 1 3 4 Y 4 5 7 9 Z 5 4 3 2 Part 2 a. The nation that most likely experienced a sizable earthquake. in late 2020 that destroyed a significant portion of its stock of capital goods, but was followed by speedy investments in rebuilding the nation's capital stock, is X . Calculate this nation's per capita real GDP at the end of 2023. $2000020000. (Enter your response rounded to the nearest dollar.)
Consider the following table displaying annual growth rates for nations X, Y, and Z, each of which entered 2020 with real
per capita GDP equal to $20,000.
Country
X
Y
Z
2020
7
4
5
Annual Growth Rate (%)
2021
1
5
4
2022
3
7
3
2023
492
a. The nation that most likely experienced a sizable earthquake in late 2020 that destroyed a significant portion of its
stock of capital goods, but was followed by speedy investments in rebuilding the nation's capital stock, is Y
Calculate this nation's per capita real GDP at the end of 2023. $
(Enter your response rounded to the nearest dollar.)
QUESTION 37
ROBOTS
60
50
40
30
20
10
0
a
10
b
20
C
30
40
50
BEFR
37. Assuming robots represents capital goods and beer consumer goods, and the growth path of country 1 is from point (a) to (b) to (c), while country 2 goes from points (d) to (e) to (f), what can you
conclude about these countries?
a) Country 1 has a higher savings rate
b) Country 2 starts out with a higher standard of living
c) Country 2 has a higher rate of growth
d) Both (a) and (b) are correct
e) None of the above
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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