16. Suppose x and y grow at constant rates ğx and ğy, respectively. What is the growth rate of z if z = ? = a. gzagx + bğy b. 9z = (9x-9y) c. 9z = ağx bgy d. 9z ağxbgy
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- Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capita? Explain.Computing growth rates (II): Suppose k, l, and m grow at constant rates givenby g k, gl , and gm. What is the growth rate of y in each of the following cases?(a) y = k 1/3(b) y = k 1/3l 2/3(c) y = mk 1/3l 2/3(d) y = mk 1/4l 3/4(e) y = mk 3/4l 1/4(f ) y = 1klm2 1/2(g) y = 1kl2 1/4 11/m2 3/47. Which of the above figures represents economic growth caused by an improvement in the technology of producing product of both X and Y? a) FIG A b) FIG B c) FIG C d) FIG D
- 11) The relationship between the growth rate of an economic variable, gt, and its level, yt, can be approximated by A) gt = yt - yt - 1. B) gt = logt - log yt - 1. C) yt = log gt - log gt - 1. D) log gt = yt - yt - 1. 12) The business cycle component of the log of real per-capita GNP is equal to A) log of actual real GNP - log of trend GNP. B) log of trend GNP ÷ log of actual real GNP. C) log of trend GNP - log of actual real GNP. D) log of actual real GNP ÷ log of trend GNP. 13) For the study of economic growth, it is most helpful to examine movements in ________; for the study of business cycles, it is most helpful to examine movements in ________. A) trend GNP; trend GNP B) trend GNP; deviations from trend in GNP C) deviations from trend in GNP; trend GNP D) deviations from trend in GNP; deviations from trend in GNP 14) Over the twentieth century, growth in per-capita GNP was highest A) immediately prior to the Great…If an economy's GDP will double in 15 years, then its growth rate must be about: 7% 15% 10% 4.7%Q.7.2.5 The measure of GDP for economic growth is not always perfect. Describe any two problems that are associated with GDP as a measure of economic growth
- Suppose a country has a real GDP per capita of $69,000 and grows at a constant rate for the next 49 years. How much larger (in percentage terms) is this country if its growth rate is 4.13% instead of 3.05% after 49 years of growth? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.Refer to Figure 17.1. Economic growth is represented by Group of answer choices a movement from point A to point C. a movement from point D to point A. all of the above a movement from point D to point C.If the real GDP growth rate in the UK is 2.0% on average, then the level of real GDP will be doubled in ____ years. 70 7 23 35
- Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting from human capital is 2%. If the annual growth rate of GDP is 5%, the growth resulting from technology equals: 1% 2% 3% 4%What is the Manufacturing PMI What are the effects of Manufacturing PMI on economic growth ? Interpret the graph belowAssume a hypothetical society that decides to reduce consumption (production of consumption goods) and increase investment (production of capital goods). i. How would this change affect economic growth? ii. What groups in society would benefit from this change? What groups might be hurt?
