Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 2E
(a)
To determine
Determine the population after 100 years from now.
(b)
To determine
Determine the level of population.
(c)
To determine
Determine the figure of population versus time.
(d)
To determine
Determine the figure of population versus time with ratio scale.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Suppose the two nations start out in 2016 with identical levels of output per worker hour say, $100 per hour. In the first nation, labor productivity growth by 1% per year. In the second girls by 2% per year. Use a calculator or a spreadsheet to determine how much output per hour each nation will be producing 20 years later, assuming the labor productivity growth rates do not change. Then, determine how much each will be producing per hour 100 years later. What do your results tell you about the effects of small differences in productivity growth rates?
For a village, the population P grows at a rate of 1.6 % per year. The formula P = 3650 (1 + r)
models the village's population t years after 2018, wherer is the rate of population growth. What
will the population be in the year 2022?
Over the last 5 years, the population level of a certain area has gone from 200,000 to 250,000, and seems to follow a double exponential pattern. The physical characteristics of the area limit the total population it can accommodate to 400,000.
Given this situation, if the same pattern of growth continues, what will be the population level in 5 years?
Chapter 3 Solutions
Macroeconomics (Fourth Edition)
Knowledge Booster
Similar questions
- If a country grows at a rate of 3% per year, how many years will it take to double in size? The answer is 23.33. Please show your work and solve this.arrow_forwardBased on World Bank data, Philippines real per capita GDP in 2019 was US$3,850. It needs to increase this to at least US$15,000 to attain a high-income country status. By how much should real per capita grown annually if it wants to achieve this status in year a) 2028; b) 2037; c) 2055?arrow_forwardAt an annual growth rate of 3.5% it will take approximately years for a country's GDP to double. Over the next 60 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 60 years the value of GDP will be $ million. In 60 years the value of GDP will be times larger than it is today. ASUSarrow_forward
- The population of a town grows at a rate proportional to the population present at time t. The initial population of 500 increases by 10% in 10 years. What will be the population in 20 years? (Round your answer to the nearest person.) persons How fast (in persons/yr) is the population growing at t = 20? (Round your answer to two decimal places.) persons/yrarrow_forwardThe population of the world in 2015 was 9.75 billion people and was growing at a rate of 1.25% per year. (i) Assuming that this growth rate continues, derive a model to represent the population P (in billions of people) in year t. (ii) From the model derive in (i), approximately when will the population of the world be 11.2 billion people?arrow_forwardPopulation of a Country The population of a country has a relative growth rate of 3% per year. The government is trying to reduce the growth rate to 2%. The population in 2011 was approximately 110 million. Find the projected population for the year 2036 for the following conditions. (a) The relative growth rate remains at 3% per year. (b) The relative growth rate is reduced to 2% per year.arrow_forward
- where The total fresh vegetables consumed per person per year can be modeled by V(t) = 0.5(t-4)²-3 V(t) is the total fresh vegetables consumed per person in pounds per year t years since 1999. In 2009, what is the total fresh vegetables consumed per person will be? {final answer will be number only}.arrow_forwardDowntown has been experiencing an explosive population growth of 10% per year. At the end of 2017 the population was 16,000. If the growth rate continues unabated, how many years will it take the population to triple?arrow_forwardStatistics indicate that the world population since world war II has been growing exponentially. If we assume exponential growth, the world population can be modelec by P (t) = 3(1.013) where P(t) is the world population in billions and t is the time in years since 1999. When (which year) will the population reach 12 billion? {your final answer just number without decimal}arrow_forward
- All values are 2005 dollars. Part a) Calculate the growth of GDP/capita in each column. Part b) Calculate the average annual growth in GDP/capita for japan, uk, and USA from 1980 to 2010 using the growth formula in the image. In the growth function, t is the current time period, t-j is the original time period, and g is the annual growth rate. Part c) In parts a and b, are the calculated values for nominal gdp/capita or real gdp/capita. Explain why.arrow_forwardCountry X has Per Capita GDP of $5,500 in 2021. Suppose this country grew at a constant 3% per year indefinitely into the future. In 2,069 (i.e., 48 years in the future) the value of Per Capita GDP in Country X would be approximately. a) $20,000 b) $22,000 c) $50,000 d) $5,500arrow_forwardUse a growth rate of 1.3% to predict the population in 2042 of a country that in the year 2006 had a population of 400 million. Use the approximate doubling time formula.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education