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Chapter 9: Q. 5 (page 210)

Suppose that during the next 10years, real GDP triples and population doubles in each of the nations in Problem 9-4.What will per capita real GDP be in each country after 10years have passed?

Short Answer

Expert verified

Capita real GDP be in each country after ten years have passed is,

Step by step solution

01

Table for population and real GDP of three countries 

The population and real GDP of three countries are shown in the table below.

02

Real GDP 

If each country's real GDP triples while its population doubles over the following ten years, the real GDP per capita will be determined as follows:

RealGDP($percapita)=Real GDPPopulation

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Most popular questions from this chapter

In 2018, a nation's population was 10 million. Its nominal GDP was \(40billion, and its price index was 100. In2019, its population had increased to 12million, its nominal GDP had risen to\)57.6billion, and its price index had increased to 120. What was this nation's economic growth rate during the year?

Consider the following table displaying annual growth rates for nations X,Yand Z, each of which entered2017 with real per capita GDP equal to$20,000.

a. Which nation most likely experienced a sizable earthquake in late 2017that destroyed a significant portion of its stock of capital goods, but was followed by speedy investments in rebuilding the nation's capital stock? What is this nation's per capita real GDP at the end of2020, rounded to the nearest dollar?

b. Which nation most likely adopted policies in 2017 that encouraged a gradual shift in production from capital goods to consumption goods? What is this nation's per capita real GDP at the end of 2020, rounded to the nearest dollar?

c. Which nation most likely adopted policies in 2017that encouraged a quick shift in production from consumption goods to capital goods? What is this nation's per capita real GDP at the end ofrole="math" localid="1651525075599" 2020 , rounded to the nearest dollar?

Consider the following data. What is the per capita real GDP in each of these countries?

Consider Figure 9-7, and suppose that we round the rate of growth of per capita real GDP experienced in the European Union between 1981 and 1990 to the nearest full percentage point. Based on the information in Table 9-3, by what percentage would per capita real GDP has increased between 1990 and 2020 if the economic growth rate will have remained at this rounded level?

Based on data in Table 9-1and the rule of 70, if India's per capita real GDP continues to grow at the average rate it has experienced since 1990, about how many years will be required for it to double?
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