3. Which of the following is not one of the three terms used to describe and compare the level of economic development found in a country? O a. GDP vs. GNP b. supply and demand O c. natural resources O d. infrastructure

Q: 15. Assume that the real income of a developing Island increases from $120,000 to $160,000 from 2005…

A: The real income per capita of a country is defined as the real income divided by the total…

Q: 14. Consider a nation in which the volume of goods and services is growing by 5 percent per year.…

A: Economic growth: Economic growth can be defined as the rise in the overall output level in an…

Q: On Jaruary 1. 2019, Real GDP was $S00 in a country. One year later on January 1, 2020, Real GDP was…

A: Real GDP growth rate =GDP of the year - GDP of last yearGDP of last year*100

Q: untries? a) Country 1 has a higher savings rate b) Country 2 starts out with a…

A: Capital good raises the productive capacity over the long run but in short run consumption level…

Q: 1. Discuss how and why each of the following might affect Indonesian per capita GDP growth: b.…

A: Per capita GDP refers to the average amount of availability of output for the people of a country.…

Q: 1. Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked.…

A: Work hours = 2000 Productivity = $8 / hour in year 1 GDP in year 1 = Work hours * Productivity GDP…

Q: What is meant by economies of scale and what is the importance of this concept to  economic growth?

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: definition of economic development, How should it be measured?

A: Economic development- The process of transforming simple and low-income economies into modern…

Q: Does the political freedom existing in democracies always aid economic growth? Why?

A: Democracy is a form of government system according to which an economy is controlled and ruled by…

Q: The primary measure economists tend to use to measure changing living standards over time is O real…

A: Ans 11.The correct answer is real GDP per capita So we can say that where I think standard of living…

Q: QUESTION 20 Which of the following statements is most accurate about modern economic growth? O a.…

A: * ANSWER :-  * The OPTION B  is correct answer. * Explanation :-

Q: year, real GDP in Ghana was $50 billion and the population was 38 million. The year before, real GDP…

A: The total gross domestic product (real GDP) is the adjusted inflation rate that reflects the value…

Q: QUESTION 8 Assume that an economy experiences both positive population growth and technological…

A:

Q: According to international studies, larger GDP per person is associated with which other measures of…

A: Economic growth and development are directly related. Development is associated with longer life…

Q: QUESTION 14 The main cause for the vast differences in per capita GDP levels seen across the globe…

A: Definition: The GDP is the completion of all worth-added made in an economy. The worth added implies…

Q: per worker (constant dollars) Productivity using 2010 technology $120,000 90,000 E B 60,000…

A: Property rights refers to the rights to use, control and gain the benefits from a good or a service.…

Q: Economic growth is defined as the percentage change in O a) population. O b) price level. O c) real…

A: Economic growth refers to increase in income.

Q: Richland's real GDP per person is $30,000, and Poorland's real GDP per person is $15,000. However,…

A: GDP refers that production of goods and services at a point of time within a boundary of a country ,…

Q: 5. Which of the following institutional arrangements is most likely to promote growth? a. patents…

A: Institutional arrangements are mainly set of agreements on the division of the respective…

Q: What is the relation between productivity growth and living standards?

A: The productivity would be the output produced by one person in a given time period. The productivity…

Q: Question 67 Which of the following is most likely to result in accelerated economic growth? O Higher…

A: Economic growth: - economic growth is the increase in the quantity of goods and services in an…

Q: e government can't only choose increasing either education or health expenditure in order for…

A: Education and healthcare are two pillars of human development in any country.…

Q: . Suppose that society decided to reduce consumptionand increase investment.a. How would this change…

A: An increase in investment and reduction in consumption will boost economic growth in the country. A…

Q: Chapter 8: Economic Growth I: Capital Accumulation and Population Growth Question: The .. . level of…

A: The solow model is one of the most important neoclassical growth models which would result in the…

Q: QUESTION 13 A nation's real GDP was $250 billion last year and $265 billion this year. Its…

A: GDP: The GDP or the gross domestic product is the measurement of the final value of goods and…

Q: The table provides some data on real GDP and the population of Iberia in 2014 and 2015. Real GDP…

A: The real GDP is adjusted for the inflation. Real GDP per person is calculated by divided the Real…

Q: Say that the average worker in Canada has a productivity level of $30 per hour while the average…

A: Productivity levels are determined on the basis of the contribution of an average worker in output…

Q: 41. Assume that a country's per-worker production is y = k"2, where y is output per worker and k is…

A: At the steady-state, an investment is equal to depreciation. That means that all of investment is…

Q: If a country has a 5% annual growth in Real GDP and the population of that country also rises by 5%…

A: When a country has a 5% annual growth rate in the Real GDP and the population of that country also…

Q: Which of the following statements is (are) problems associated with economic growth? O a. Growth of…

A: GDP(GROSS domestic product) is the sum of value of goods and services that are produced in an…

Q: Assuming that real GDP per person is a good measure of living standards, between 2016 and 2017,…

A: Basics:- Real GDP is calculated without inflation impact on output. Standard of living means…

Q: Which of the following is not a determinant of economic growth? O a. Growth in physical capital. O…

A: Economic growth is defined as the process whereby the final goods and services increase in the…

Q: Which of these is NOT a factor of economic growth? O decrease in the savings rate investment in…

A: Economic growth is defined as an increase in the stock of final goods and services from one period…

Q: 2.C.i Calculate the intrinsic rate of growth for the population described in the lifetable below ".…

A: x lx Fx 0 1 0 1 0.5 1 2 0.25 2 3 0.125 8

Q: 3. What is development? Sustainable development? We often use real per capita GDP as a proxy for the…

A: Advancement characterize as the improvement in nation's financial and social condition. Advancement…

Q: A country faces diminishing marginal returns when increasing it's capital stock. If this country…

A: Answer: Diminishing marginal returns: if a particular input is increased keeping all other inputs…

Q: ). Economic development is measured by. a) an increase in the aggregate level of output. O b) an…

A: The volume and variety of economic resources, as well as their equal distribution, are all…

Q: a) Assume a hypothetical society that decides to reduce consumption (production of consumption…

A: 1. The increase in investment leads to long term economic growth. That is, increase in investment…

Q: What annual growth rate will result in a country roughly doubling its GDP in 10 years? Select one:…

A: Gross domestic product is the value of final goods producing in a territory over a period of time.…

Q: 4. You have been hired to forecast future population level for a small country. You know that this…

A: Population Growth rate  The population growth rate is connected to the variation in the number of…

Q: 13. Assume that an economy experiences both positive population growth (8× ) and technological…

A: Balanced growth path is a state in an economy at which all the variables such as consumption,…

Q: The relationship between international aid and economic growth for less-developed countries is O a)…

A: International aid refers to the practice of foreign countries extending a hand of help in the for of…

Q: 2. In order to have a higher and inclusive growth, "Capital in its different forms whether (i)…

A: Savings refer to the proportion of income which is not spent on present consumption .