Per-capita GDP on a ratio scale

Assignment Help Business Economics

Reference no: EM13734273

Plot (using a spreadsheet or other graphical tool) the following scenarios for per-capita GDP on a ratio scale. Assume that per capita GDP in the year 2000 is $10,000. Use the Rule of 70 to estimate the value of per capita GDP on the graph for the years listed below. Show/state how far o the Rule of 70 sits relative to the actual value. These should be very simple graphs.

(a) Per capita GDP grows at a constant rate of 5% per year between 2000 and 2070.

(b) Per capita GDP grows at 2% per year between 2000 and 2070, speeds up to 7% per year for the next 20 years, then slows down to 5% per year for the next 28 years.

(d) Comment (you don't need to show graphically) on how these would look if we had used a linear scale.

Reference no: EM13734273

Questions Cloud

Is the employer liable under theory of respondent superior : Neal Rubin, while driving his car in Chicago, inadvertently blocked the path of a Yellow Cab Co. taxi driven by Robert Ball, causing the taxi to swerve and hit Rubin’s car. Angered by Rubin’s driving, Ball got out of his cab and hit Rubin on the head..

Dutch city marketing : Richard Pawlus was an owner of Dutch City Wood Products, Inc., which did business as “Dutch City Marketing”. Pawlus purchased merchandise from Rothschild Sun systems from April 24 to June 24 using the designation “Richard Pawlus Dutch City Marketing”..

Calculate the lerner index for the market : A single firm monopolizes the entire market for some product which can be produced at a cost of c(Q) = Q^2. The firm faces a market demand curve given by Q = 60 ? 0.5p. What is the firm’s profit? Calculate the Lerner Index for the market

Initially in a perfectly competitive equilibrium : Assume that the dairy industry is initially in a perfectly competitive equilibrium. Assume that, in the long run, the technology is such that average cost is constant at all levels of output. Suppose that producers agree to form an association and be..

Per-capita GDP on a ratio scale : Plot (using a spreadsheet or other graphical tool) the following scenarios for per-capita GDP on a ratio scale. Assume that per capita GDP in the year 2000 is $10,000. Use the Rule of 70 to estimate the value of per capita GDP on the graph for the ye..

What is the annual equivalent cost for the truck : The initial cost of a pickup truck is $12,859 and will have a salvage value of $4,027 after five years. Maintenance is estimated to be a uniform gradient amount of $181 per year, with zero dollar for first year maintenance. The operation cost is esti..

Rise in prices in micro economic markets : Please Identify then Contrast the differences between the rise of prices due to Inflation and the rise in prices in Micro Economic Markets.

Significance and the sample data to test the hypothesis : Mars Inc. manufacturers M&Ms the milk chocolate comes in a variety of colors : blue, brown, green, orange, red, and yellow. the overall proportions for the colors are 0.24 blue, 0.13 brown, 0.20 green, 0.16 orange, 0.13 red and 0.14 yellow in a sampl..

Make gismos at an initial production cost : Manufacturer A is starting to make Gismos at an initial production cost of $95 for the first unit and has been lowering the cost with a learning rate of 79 percent. Manufacturer B also started this year with an initial production cost of $288/unit wi..

User Account

All Pages