What is the average annual growth rate of GDP per capita

Assignment Help Business Economics
Reference no: EM131242376

Suppose in a particular country, GDP per capita was $3400 in 1960 and $44000 in 2005. What is the average annual growth rate of GDP per capita in this country? How many years it will take for the GDP per capita to double, if it continues to grow at this growth rate?

Reference no: EM131242376

Questions Cloud

Be comfortable with what shifts the supply and demand curve : Learning Objective: In terms of macroeconomics; Be comfortable with what shifts the supply and demand curve, and how shifts in either supply or demand or both supply and demand change equilibrium quantity and equilibrium price. What would happen to t..
Suppose the current equilibrium for gallon of milk : Suppose the current equilibrium for a gallon of milk is $4.00. the milk trade association starts a new advertising campaign that includes a well-received ad during the super bowl causing the equilibrium price to increase to $4.50. But the federal gov..
An examples of an asset being securitized : An examples of an asset being securitized is. Corporate stocks and bonds are the same in that. A purchase of stock on margin is a stock purchase. A random walk of stock prices implies that.  The Modigliani-Miller theory says that
The marginal rate of technical substitution : When capital is plotted on the vertical axis and labor is plotted along the horizontal? axis, the marginal rate of technical substitution? (MRTS) of labor for capital along a convex isoquant
What is the average annual growth rate of GDP per capita : Suppose in a particular country, GDP per capita was $3400 in 1960 and $44000 in 2005. What is the average annual growth rate of GDP per capita in this country? How many years it will take for the GDP per capita to double, if it continues to grow at t..
The representative consumers wage income : Consider a representative consumer whose preferences are represented by the utility function, where c is consumption and I is leisure. The consumer derives income from wages w and dividend income. Suppose that the government imposes a proportional in..
Economic development and economic growth : Explain the inter-relationship between economic development and economic growth. Elucidate your answer with examples of countries that have high income per capita but low levels of development.
Subprime market that have emerged post-financial crisis : Caliber Home Loans is one of the few new players in the subprime market that have emerged post-financial crisis. Briefly describe the similarities and differences between the pre-crisis subprime market and Caliber's business model as described in our..
When the nominal rate changed the real rate : When the nominal rate changed the real rate usually moved in the same direction and that this “is what Taylor’s Principle requires”. Explain why it is that Taylor’s Principle requires that every time a central bank changed the nominal rate it does th..

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what effect do rising interest rates have value

Illustrate what effect do rising interest rates have on the value of the Australian dollar. Use an AD/AS diagram to show the effects on Real GDP and the price level of an appreciating Australian dollar.

  Lead to the development of the feudalist society

Which of the following factors did NOT lead to the development of the Feudalist society?

  Demand-supply conditions in competitive market for product

Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X. Other things equal, a shift of the supply curve from S0 to S1 might be caused by a(n): government subsidy per unit of output paid to firms p..

  Consider a utility function where utility in period

Consider a utility function where Utility in period t if a person exercises is 2, and utility in period t+1 if they exercise is 8. On the other hand if they donít exercise, their utility in period t is 6, and their utility in period t+1 is 4.

  Affect short-run interest rates and output

Using IS-LM analysis show graphically and explain how a liquidity trap affects the Fed’s ability to use conventional monetary policy to affect short-run interest rates and output.

  Health insurance-high-risk and low-risk consumers

Suppose there are two types of people who need health insurance; high-risk and low-risk consumers. High-risk consumers have a relatively high probability of needing expensive medical care and on average incur $2,000 of medical expenses per year. If a..

  The annual income from a rented home

The annual income from a rented home is $24,000. The annual expenses are $6000. If the house can be sold for $245,000 at the end of 10 years, how much could you afford to pay for it now, if you considered 9% to be a suitable rate?

  Equivalent equal monthly payment series in constant dollars

Suppose that you barrow $17,000 at 15% compounded monthly over four years. Knowing that the 15% represents the market interest rate, you realize that the monthly payment in actual dollars will be $473.12. If the average monthly general inflation rate..

  How many sandwiches could he make

Alan always uses 2oz. of peanut butter and 2oz. of jelly in a PB&J sandwich, and these are the only two commodities he consumes. Assuming he has 2oz. of peanut butter and 2oz. of jelly, how many sandwiches could he make? What if he had 3oz. of peanut..

  Frictional unemployment and structural unemployment

Okun's law expresses the relationship between: unemployment and inflation. frictional unemployment and structural unemployment, the money supply and the velocity of money. cyclical unemployment and the output gap.

  What percentage change in the CPI

According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..

  What is the workers total opportunity cost

A worker making 20$ per hour decides to take unpaid leave from work to attend a graduation ceremony. Assuming the worker works an 8 hour day has a total tax rate of 70% and receives a 5% contribution from his employer to his 401k, what is the worker'..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd