24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select threecountries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies todouble, assuming their growth rates remain constant.Section 12.1exhibit 3Real per Capita GDP (Selected Countries, 1997-2016)COUNTRYAVERAGE ANNUAL % GROWTHChina8.55India5.35Bangladesh4.15Indonesia2.64Pakistan1.76Canada1.44United Kingdom1.43United States1.38Germany1.33Spain1.31Mexico1.23Argentina1.22Brazil1.16France0.99Japan0.69Italy0.15BOURCE Wond Bank

Economic growth means how economy's GDp is Growing annually . It's a quantitative measures to…

24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select three countries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies to double, assuming their growth rates remain constant. Section 12.1 Real per Capita GDP (Selected Countries, 1997-2016) exhibit 3 COUNTRY AVERAGE ANNUAL % GROWTH China 8.55 India 5.35 Bangladesh 4.15 Indonesia 2.64 Pakistan 1.76 Canada 1.44 United Kingdom 1.43 United States 1.38 Germany 1.33 Spain 1.31 Mexico 1.23 Argentina 1.22 Brazil 1.16 France 0.99 Japan 0.69 Italy 0.15 SOURCE Wond Bark

24. Explain the impact that growth rates have on countries, both rich and poor, over time. Select three countries from Exhibit 3 and calculate to a tenth of a year how many years it will take their economies to double, assuming their growth rates remain constant. Section 12.1 Real per Capita GDP (Selected Countries, 1997-2016) exhibit 3 COUNTRY AVERAGE ANNUAL % GROWTH China 8.55 India 5.35 Bangladesh 4.15 Indonesia 2.64 Pakistan 1.76 Canada 1.44 United Kingdom 1.43 United States 1.38 Germany 1.33 Spain 1.31 Mexico 1.23 Argentina 1.22 Brazil 1.16 France 0.99 Japan 0.69 Italy 0.15 SOURCE Wond Bark

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

See similar textbooks

Similar questions

Explain the difference between property rights and contractual rights. Why do they matter to economic growth?
An economy starts off with a GDP per capital of 12,000 euros. How large will the GDP per capita be if it grows at an annual rate of 3 for 10 years? 3 for 30 years? 6 for 30 years?
What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
List the areas where government policy can help economic growth.
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?