1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annualrate of 1.6%. Assume that it continues to grow at this rate.Compute the doubling time.а.b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).2.Suppose a country's population grows at the rate of 2% per year and its output grows at the rate of3% per year.а.Calculate its rate of growth of per capita output.b. If instead its population grows at 3% per year and its output grows at 2% per year, calculate its rateof growth of per capita output.3. Suppose an increase in air pollution causes capital to wear out more rapidly, doubling the rate ofdepreciation. How would this affect economic growth?

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1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annual rate of 1.6%. Assume that it continues to grow at this rate. a. Compute the doubling time. b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).

1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annual rate of 1.6%. Assume that it continues to grow at this rate. a. Compute the doubling time. b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...

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Question

1. The population of the world in 2003 was 6.314 billion. It grew between 1975 and 2003 at an annual
rate of 1.6%. Assume that it continues to grow at this rate.
Compute the doubling time.
а.
b. Estimate the world population in 2048 and 2093 (assuming all other things remain unchanged).
2.
Suppose a country's population grows at the rate of 2% per year and its output grows at the rate of
3% per year.
а.
Calculate its rate of growth of per capita output.
b. If instead its population grows at 3% per year and its output grows at 2% per year, calculate its rate
of growth of per capita output.
3. Suppose an increase in air pollution causes capital to wear out more rapidly, doubling the rate of
depreciation. How would this affect economic growth?

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