Chapter 7: Q.10 (page 186)
What are the "advantages of backwardness" for economic growth?
Short Answer
The backward countries' growth rates are higher than the developed countries.
Chapter 7: Q.10 (page 186)
What are the "advantages of backwardness" for economic growth?
The backward countries' growth rates are higher than the developed countries.
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Why is investing in girls’ education beneficial for growth?
An economy starts off with a GDP per capita of. How large will the GDP per capita be if it grows at an annual rate of for years? for years?
for years? for years?
Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar?
How are they different?
For a high-income economy like the United States, what aggregate production function elements are most important in bringing about growth in GDP per capita?
What about a middle-income country such as Brazil? A low-income country such as Niger?
Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan.
Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the
growth rate of real GDP per capita? Explain.
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