Calculate the nations real gdp per capita growth rate

Reference no: EM13182463

1.A nation's real GDP increased from $225 billion to $230 billion in one year. In that same year, the nation's population increased from 125 million to 126 million.
a. Calculate the nation's real GDP per capita growth rate.
b. If this nation maintained this growth rate, how many years would it take for real GDP per capita to double?

2.The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker.
Figure: Nations A and B
a. Compute the growth of real GDP per capita (between 1958 and 2008) for both nations.
b. Clearly in both 1958 and in 2008 nation A was producing more real output per capita with the same amount of physical capital per

Reference no: EM13182463

Questions Cloud

Determine will jack work for more hours : a. Jack consumes two goods: food and leisure. He works for 8 hours per day and earns a wage of $8 dollars per hour. His rich uncles also give him around $20 per day. Illustrate Jack's choice of work and leisure using an indifference curve and a b..

Explain what is the overall mechanism for the reaction : Recrystallization from 95% ethanol gave yellow crystals. What is the overall mechanism for this reaction including all arrows, the identification of the electrophile and nucleophile, and all charges?

Calculate the molarity m of a solution : Calculate the molarity (M) of a solution prepared by dissolving 1.00g of ethanol (C2H6O) in enough water to give a final volume of 101 mL.

How much more food would buy on average costs : Illustrate the impact of food stamps worth $100 compared to a $100 cash transfer on Joe's budget set b. Starting this month, Joe would receive food stamps worth $100 per month. How much more food would he buy this month if food on average costs $2..

Calculate the nations real gdp per capita growth rate : The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker. Figure: Nations A and B..

What is your maximum consumer surplus if you accept the deal : Imagine cell phones are simple and the only thing consumers care about is minutes. Suppose a monopolist wireless company says, \The cell phone and the first 6 minutes are free, and the price of each additional minute is $2." Now suppose your deman..

State ph of a solution of a weak base or acid : Calculate the concentration of HC2H3O2 or NH3 in each of the solutions you measured. By how many units did the pH of a solution of a weak base or acid

How much will the consumers surplus change : If the government imposes consumption tax on the good that raised prices by $1, by how much will the consumer's surplus change? Show the relationship between EV, CV, and consumer surplus using compensated and uncompensated demand curves. If you your..

Should adams buy the new machine : will Levi's salary be in five years if he gets a 5 percent raise each year and what would his salary be in five years if the annual raise is 9 percent?

User Account

All Pages