Macroeconomics (Fourth Edition)
Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Chapter 3, Problem 9E

(a)

To determine

Determine the value of growth rate.

(b)

To determine

Determine the value of growth rate.

(c)

To determine

Determine the value of growth rate.

(d)

To determine

Determine the value of growth rate.

(e)

To determine

Determine the value of growth rate.

(f)

To determine

Determine the value of growth rate.

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Assume that a country, in year 5, has a population level, P, of 14 380 individuals. The country's population has been growing at a constant yearly rate of 2.4%. a) Find the country's initial population size, assuming that we are dealing with discrete time. Then, determine the initial population size assuming continuous time. (You must show all your work!) Are the two initial population sizes similar? Why or why not? b) Now, assume that g is actually 5% and that the initial population level was, in fact, 10,000. Using the Rule of 70, graph the population growth on a ratio scale for the time periods, t = 0, 7, 14, and 28. Label your graph. Please upload your answer as ONE file (document or picture files are acceptable).
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1) Let the growth rate of X, be defined as the log difference a (X4) = log X – log X-1. For variables X, and Y, show that the growth rate of the quotient equals the difference of the growth rates, g g(Xt) – g (Y:).
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