If real GDP increases from $100 billion to $105 billion, and the population increases from 100 million to 102 million, what is the grwoth rate of real GDP per person?
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- Do the math and.then answer the question If real GDP increases from $100 bilion to $105 billon, and the population increases from 100 nillion to 102 millon, what is the growth rate of real GDP per person? The growth rate of real GDP per person is percentIf real GDP increases from $100 billion to $105 billion, and the population increases from 100 million to 102 million, what is the growth rate of real GDP per person? The growth rate of real GDP per person is ___ percentSmall differences in growth rates in the size of the economy, over several decades, will result in big differences in the size of the economy. Pretend we start in 1950 and the U.S. growth in real GDP has been around 3.15%. This has resulted in real GDP growing 8 times over this 70-year period (1950 to 2020). If real GDP growth had been 4.0%, real GDP would be times larger. a. 8 (about the same growth as with 3.15% growth) b. 10 С. 14 d. 16
- 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 growthMy courses / ECON202-20202 / My Assessments / MIDTERM EXAM If the US has an average growth rate is 2.1% and South Korea has an average growth rate of 5.%, then South Korea is experiencing of O a. a slower economic growth than the US. b. no economic growth. estion O c. the same economic qrowth as the US. O d. a faster economic growth than the US. Next page A Chapter 6 In Class Practice Jump to... eu are logged in as ABDULRAHMAN ALSAEEM (Log out) Copyright © 2020 All Rights Reserved. MacBook Pro @ 2# % & 2 3 4 5 7 8 A E R T Y ض ق そ A S » G H. J K V B i く 6. つ つ > *3ASAP
- to per * 6. U.S. growth: On page 52, we noted that the growth rate of per capita GDP. the United States between 1870 and 1929 was slightly lower than 2.0%A the growth rate between 1950 and 2018 was slightly higher. Using the follows table, calculate the actual average annual growth rates during these twvo period Year US. income 1870 $3.629 1929 $9,827 1950 $16,294 $61,125 2018Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2 percent a year. What does this tell us? A. Real GDP grew faster than the population. B. The growth rate of real GDP was 2 percent a year on average. C. Real GDP grew slower than the population. D. The growth rate of real GDP was less than 2 percent a year on average.unning a budget denent. Which of the following is not considered a factor contributing to economic growth? Select one: a. Growth in the national money supply. b. Government protection of property rights. c. Growth in physical capital inputs (machines, tools, buildings, and inventories)
- Define the concepts or Real GDP and Economic growth. Explain their relationship?4. According to Malthus, how does economic growth and population relate to each other?If the annual GDP growth rate on average in a country is 5%, the current GDP is $10 trillion, how many years will it take to double GDP? a. 1400 b. 10 c. 14 d. 70 e. 5
