BU204_Section02_Unit3

Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate – Inflation rate – Population growth rate - - This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists a fictional country's nominal GDP, real GDP, GDP deflator, and population over two years. Year 2017 2018 Nominal GDP $1,100,000 GDP Deflator 100 105 Real GDP (2017 dollars) $1,100,000 $1,142,857 Population 1,000 1,005 $1,200,000 Instructions: For part b, round your answers for dollar values to two decimal places (dollars and cents). For parts c-d, round your answers to one decimal place. a. Are the real GDP values in the table above accurate? (Click to select) b. This country's real GDP per capita for 2017…

Reference equation: Real GDP per capita growth rate ■ Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists a fictional country's nominal GDP, real GDP, GDP deflator, and population over two years. Year 2017 Nominal GDP $1,100,000 2018 GDP Deflator 100 104 Real GDP (2017 dollars) $1,100,000 $1,153,846 Population 1,000 1,005 $1,200,000 Instructions: For part b, round your answers for dollar values to two decimal places (dollars and cents). For parts c-d, round your answers to one decimal place. a. Are the real GDP values in the table above accurate? Yes, they are accurate. b. This country's real GDP per capita for…

Please select 2 countries and investigate the relationship between Financial Development and Economic Growth. In this project, you are expected to explain the following issues: 1- Why these 2 countries? 2- What is the relationship between growth and financial development? (Hint: Financial Development could be proxied by the Financial Development Index) While explaining what you found with data, you are expected to support your findings with at least 3 studies in the literature. You are limited to a maximum 3 pages.

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QUESTION 4 (a) What is an autoregressive distributed lag (ARDL) model in time- series analysis? (b) Suppose you model the growth rate in the world steel price (steelgr:) as a function of the the Chinese GDP growth rate (AChinaGDP;), using quarterly data: steelgr; = 0.044 +0.45AChinaGDP; + 0.8AChinaGDP;-1 + Et What is the long-run effect on the world steel price of a decrease in the Chinese growth rate from 8.5% to 7%?

Please give me full explanation explanation Note:- Please don't simply copy and paste content from other AI tools or bots, or else I may have to downvote your actions. Do not provide the handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.

26-021-323 Development Economics Problem Set 2 (1) This question involves detailed numerical calculations and will not be a typical exam question. But it will help you understand the basic growth model. The economy of Ping Pong produces its output using capital and labor. The labor force is growing at 2% per year. At the same time, there is "labor-augmenting" technical progress at the rate of 3% per year, so that each unit of labor is becoming more productive. (a) How fast is the effective labor force growing? (b) Now let's look at production possibilities in Ping Pong. We are going to plot a graph with capital per unit of effective labor (k) on the horizontal axis and output per effective unit of labor () on the vertical axis. Here is a description of the "production function" that relates to k. As long as k is between 0 and 3, output (ŷ) is given by = (1/2)k. After k trosses the level 3, an additional unit of k only yields one-seventh additional units of ŷ. This happens until &…

This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian).  Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019.  Question 2. Given the economic conditions described above, predict how the following key…

This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian).  Questions: Question 4. Given the economic conditions described above, recommend the appropriate monetary policy that the Reserve Bank of Australia (RBA) should implement.Clearly explain why this type of monetary policy is needed.  Question 5. Describe in detail the steps the RBA must…

This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Question: Draw appropriate graph(s) to illustrate the Australian economy in June 2019, considering the previously described economic conditions.

This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian).  Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019.  Question 2. Given the economic conditions described above, predict how the following key…

This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian).  Question 4. Given the economic conditions described above, recommend the appropriate monetary policy that the Reserve Bank of Australia (RBA) should implement.Clearly explain why this type of monetary policy is needed. Question 5. Describe in details the steps the RBA must undertake to…

The following is a plot of US labor productivity. The scale is calibrated soproductivity = 100 in 2012.In 2020, productivity is estimated at 113. In 1990 it was 60.What was the growth rate of productivity from 1990 to 2020? (report the percentage rate with one decimal)

Performance of Key Sectors Exports of manufactured goods surpassed RM1 tril mark for the first time Manufactured Goods Manufactured Goods RM848.84 bil RM1.067 tril 125.6% 123.4% 86.1%* 86.0% EXPORTS IMPORTS RM1.240 tril RM987.24 bil 5.6% 7.9% 5.4% 6.2% Others . • Agriculture Goods RM98.10 bil Others RM4.71 bil Ågriculture Goods RM60.97 bil 个12.3% 136.8% RM24.40 bil Mining Goods RM69.79 bil 158.7% 125.0% Mining Goods 个19.5% RM53.04 bil Note: * share 19.0% 1. ANALYSE THE PERFORMANCE OF THE KEYS SECTORS ABOVE

The United Kingdom (UK) left the European Union (EU) on 31 January 2020. A transition period is now in place until 31 December 2020. During this period the UK must comply with all EU rules and laws. Virtually nothing will change for businesses or for the public. There will be changes after the transition period, whether or not an agreement is reached on the new relationship between the UK and the EU.       Task assigned:   Analyse the impact of the BREXIT to the UK economy. You may include justifications from the relevant journal articles to make your argument constructive enough to support your discussions. Your work should be based on the following points:   UK Currency market UK economic Growth UK gross domestic product UK Foreign direct investment       Instruction: Your work should NOT emotionally or politically motivated.

Explain why the variables move together on this time trend.   (Please see attachment and give proper correct explanation in typed format step by step within 40 min .  Will give you thumbs up only for the correct answer . Thank you .)

The following table represents the thallium production and apparent consumption in the United States for the years 2004 through 2010. Unit value is the value in actual dollars of one metric ton (t) of thallium apparent consumption. With 2004 as the base year, adjust the unit value in actual U.S. dollars to the unit value in constant 2004 U.S. dollars (2004$).

Predicting steady states and growth rates: Consider the data in the table below (You may find it easier to answer these questions using a spreadsheet program.) (a) Assuming no differences in TFP (ignore the last column) or the rate of depreciation across countries, use the data in the table to predict the ratio of per capita GDP in each country relative to that in the United States in steady state. (b) Now do the same exercise assuming TFP is given by the levels in the last column. Discuss briefly the differences you find in these two approaches. (c) Based on the numbers you find with the TFP differences, compute the percentage gap between the steady-state income ratio and the ratio in 2010 (as shown in the table). Use the actual 2010 ratio in the denominator. (d) Apply the principle of transition dynamics to rank the countries in order of expected growth rate over the coming decades, from fastest to slowest.  

All values are 2005 dollars. Part a) Calculate the growth of GDP/capita in each column. Part b) Calculate the average annual growth in GDP/capita for japan, uk, and USA from 1980 to 2010 using the growth formula in the image. In the growth function, t is the current time period, t-j is the original time period, and g is the annual growth rate. Part c) In parts a and b, are the calculated values for nominal gdp/capita or real gdp/capita. Explain why.

India’s GDP per capita increased from $310 in 1991 to $1,489 in 2012.   (i) Calculate the average annual rate of growth of the Indian economy during this period using the arithmetic average.   (ii) Calculate the geometric average annual growth rate of India during this period. Explain why the number you find in (ii) differs from the result obtained in (i).

Economics Help: Please see attached

In the event of strong economic growth in China which relationship/s will be affected? Short Run Aggregate Supply Investment Demand Long Run Aggregate Supply Aggregate Demand Regarding the question above, describe short run result of the change? Price level increases and real gross domestic product increases. Price level decreases and real gross domestic product decreases. Price level decreases and real gross domestic product increases. Price level increases and real gross domestic product decreases.

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South Africa’s economy is comprised of several different market structures, and these have different implications for welfare, development, employment, competition and economic growth. Using publicly available data, generate two (2) graphs of macroeconomic indicators that would best encapsulate South Africa’s economic performance over the period Jan 2017 to December 2022 for an investor who may be interested in South Africa. Provide a brief explanation of the trends shown in the graphs.

Assume the carrying capacity of the earth is 9 billion. Use the 1960s peak annual growth rate of 2.1​% and population of 3 billion to predict the base growth rate and current growth rate with a logistic model. Assume a current population of 6.8 billion. How does the predicted growth rate compare to the actual growth rate of about 1.2​% per​ year?

Question9Consider an aggregate production function of the form Y= K⅓(AL)⅔Assume that the labor force is a constant fraction of the population. capital per worker grows at 3% population grows at 1% and labor productivity grows at 6% then GDP per capita grows at_____%

Identify the difference between nominal GDP and real GDP; you must use the defined concepts and the methodological procedure to calculate each concept.Your response should include the following: Use numerical example or real graphs of the economy of Puerto Rico or the United States to represent your knowledge acquired in the content of the module.Finally, incorporate in your document the importance of calculating the growth rate of both concepts, how it is calculated and its interpretation regarding the economic cycle.

3. Use the following information to answer the questions below: (1) the rate of depreciation is 10% per year, (2) the population growth rate is 2% per year, and (3) the growth rate of technology is 3% per year. (a) The annual growth rate of "effective labor" in the steady state equals_ (b) The level of investment needed to maintain a constant capital stock ( K ) in this economy is xK. (c) The level of investment needed to maintain constant capital per effective worker (K/(AN)) is _x K. (d) The steady state growth rate of aggregate output in this economy is %. (e) The steady-state growth rate of output per worker in this economy is

For a good or service to be counted in a given year's gross domestic product (GDP), what four criteria must be met? have a market value, be a final good or service, be produced within a given country, and be produced within a certain time frame   have a market value, be a final good or service, be produced within a given country, and be produced independent of any set time frame   have a market value, be an intermediate or final good or service, be produced within a given country, and be produced within a certain time frame   have a market value, be a final good or service, be produced within a given country or in another country with whom they have established trade relations, and be produced within a certain time frame

Assume that a country, in year 5, has a population level, P, of 14 380 individuals. The country's population has been growing at a constant yearly rate of 2.4%. a) Find the country's initial population size, assuming that we are dealing with discrete time. Then, determine the initial population size assuming continuous time. (You must show all your work!) Are the two initial population sizes similar? Why or why not? b) Now, assume that g is actually 5% and that the initial population level was, in fact, 10,000. Using the Rule of 70, graph the population growth on a ratio scale for the time periods, t = 0, 7, 14, and 28. Label your graph. Please upload your answer as ONE file (document or picture files are acceptable).

1. Consider the following Romer model of economic growth: Y₁ = A₁Lyt AA, = ZA,L, Lat = Lyt= = L Lat = lL (a) If 4₁ = 100, ē = 0.1,ī = 1/3,000, [= 1,000, and what is the growth rate of knowledge in this economy? (b) What is the growth rate of per capita output in this economy? (c) Using the information from year 1, what is the level of per capita output in this economy in year 5?

Solution for the Sub questions

An increase in research productivity: Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research pro-ductivity z rises immediately and permanently to the new level z r. (a) Solve for the new growth rate of knowledge and yt.(b) Make a graph of yt over time using a ratio scale.