Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781337091985
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 7, Problem 7PA
To determine
Property rights and its effect.
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What are the top 10 GDP/capita countries in the world? Please find the latest numbers. How does Canada and the USA rank in terms of GDP/capita?
how would you describe the relationship between property rights and GDP per capita? Why do you think that relationship exist?
Per capita GDP is used to measure a country's standard of living. What other economic factors impact the day-to-day
life of citizens in a country?
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Brief Principles of Macroeconomics (MindTap Course List)
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- The International Property Rights Index (IPRI) scores countries based on the legal and political environment and how well property rights are protected. The following table lists the IPRI scores and GDP per person in 2018 for six countries.arrow_forwardHow many times greater was the GDP in 2004 than in 1950? By how many times did the GPI increase between 1950 and 2004? What does this comparison tell you?arrow_forwardHigh-income countries United States Canada Japan France Middle-income countries i China India Libya Low-income countries Burundi Haiti Ethiopia Average Growth Rate (2000-2018) of GDP Population. 1.7 1.9 0.7 1.1 9.5 6.8 -1.2 3.1 1.4 9.8 0.8 1.0 0.0 0.6 0.5 1.4 1.2 3.1 1.5 2.8 Per Capita GDP 0.9 0.9 0,7 0.5 9.0 5.4 -2.4 0.0 -0.1 7.0 Assuming the 2019 per capita GDP growth rate is equal to the average growth rate (2000-2018) provided in the table, estimate 2019 per capita GDP for each of the following countries: Instructions: Round your responses to the nearest dollar. a. Japan: $[ b. Haiti: Sarrow_forward
- In 1989, America's GDP per capita was approximately 30,000 (measured in today's dollars). How much higher in percentage terms was America's GDP per capita in 2015?arrow_forwardBillions of people in the world make two dollars a day or less. In fact, a billion people make less than one dollar a day. In such places, a loan of $100 or $200 makes a huge difference. That's where microloans from organizations such as Opportunity International come in. Opportunity International is an organization that grants microloans to people, mostly women, in developing countries so they can invest in a business. Those investments often lead to community growth and employment, and help the owners, themselves, to prosper on a moderate scale. The borrowers must pay back the money with interest—when they do, they can borrow more and keep growing. Opportunity International, unlike some other microlending organizations, also provides a banking function where entrepreneurs can safely put their money. They can also buy some insurance to protect themselves against loss. Opportunity International helps over a million people in over 28 countries, giving them the opportunity to change…arrow_forwardshould the GDP per capita in the united states be higher than Canada'sarrow_forward
- What is the current real GDP per person in South Africa? How has this changed over the past 10 years?arrow_forwardThe International Property Rights Index (IPRI) scores countries based on the legal and political environment and how well property rights are protected. The following table lists the IPRI scores and GDP per person in 2018 for six countries. Norway Singapore United Kingdom Brazil Algeria Bangladesh IPRI Score 8.5 8.4 8.1 5.7 4.1 3.4 GDP per Person (Current US Dollars) 82,372.4 61,230.2 42,260.9 9,126.9 4,449.8 1,736.3 Countries with higher income per person generally have What can the government of a relatively poor country do Encourage transmission of knowledge by remo poorer better property rights protection than those with lower income per person. ote economic prosperity? Check all that apply. nts and copyrights.arrow_forwardsome countries are rich and some are poor. Explain this situation with "geography". Can you help me please?arrow_forward
- There are two countries in the world: Happytimes and Treehausland. Both countries currently have a GDP per capita of 1. Use the information in the table about growth and productivity to answer the questions. Round all numerical answers to two decimal places. Country Growth rate of GDP per capita Happytimes 0.086 Treehausland 0.031 What is GDP per capita in Happytimes in 21 years21 years ? Happytimes's GDP: $ What is GDP per capita in Treehausland in 21 years21 years ? Treehausland's GDP: $ In 21 years21 years , Happytimes grows how many times more than Treehausland? Happytimes's growth: times Treehausland's growtharrow_forwardIn your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being of a nation?arrow_forwardWhat is GDP per capita and why is it useful in measuring differences in living standards between different countries?arrow_forward
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