An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534 billion. In percentage terms, what is the growth rate? Please round your answer to the nearest whole number. growth rate:

Q: Income claculation for year 2013 are : Consumption=$40, Government Expenditure=$50, Investment=$25,…

A: The process by which a country's wealth increases over time is known as economic growth. Although…

Q: |Population,Year 1 and Year 2 (Millions) Growth Rate Real Real GDP per Capita, Year 1 Inflation GDP…

A: (a)-$54,500 we have given, Real GDP per capita of year 1 = $50000 also population (N) = 300 million,…

Q: What is the GDP growth rate?

A: The term Growth means quantitative change in any variable.

Q: How will you identify the factors affecting long-term level and growth of national income?

A: National income refers to the value of the production of goods and services in an economy during a…

Q: GDP decreased by 8% from March 31 to June 30, 2020. the annualized GDP growth rate for this period…

A: The GDP is the total income from goods and services produced domestically during a particular period…

Q: Give five reasons why GDP is the most widely used measurement in determining economic growth and…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: Please explain the effect of public expenditure on economic growth?

A: According to the given question In simple words we can say that a public expenditure is an…

Q: A country aims to double real GDP per capita in the next 25 years. If the rate of population growth…

A: Using the rule of 70 Growth rate to double = 70/years=70/25=2.8% Future value, FV = 2 Present value,…

Q: The growth rate of nominal GDP in 2019 is percent.

A: Nominal GDP is the value of all goods and services in an economy at the current price.

Q: What are the fluctuations in Ghana economic growth from 2018 to 2021?

A: Economic Growth A rise in the production of economic goods and services is characterized as economic…

Q: Is the claim that lower company taxes adding to investments correct or is it debatable given the…

A: A government collects tax revenue in different ways such as income tax from households, corporate…

Q: Why is investment an important component in a country's output? what theory supports investment in…

A: To spur economic growth, a country must acquire or mobilise funds in order to invest in the…

Q: What is gross capital formation reflecting in terms of GDP of a country? What it indicates when the…

A: Gross domestic product is the total market  value of of goods that is produced domestically during…

Q: Analyse the link between finance and economic growth.

A: Economic Growth Economic growth basically refers to an increase in the value of a country's goods…

Q: What happens to the economic growth if the unemployment rate increases

A: According to economic theory ( Okun's Law), growth rate and unemployment are inversely related i.e.…

Q: In what role do you think does savings and investments play in the economy? Explain your answer. In…

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

Q: Are remittances has a positive or negative correlation with economic growth? If YES, Why? If NO,…

A: Remittance is the income which worker settled in aboard send to their families in their home…

Q: What creates or stimulates the rate of economic growth in the economy, in macroeconomics

A: In macroeconomics, the rate of economic growth comes from the demand side and supply side.…

Q: Explain the following table: Symbol Steady State Rate Growth k y yxh Y=yxhxL n+g

A: Solow model is exogeneous growth model which analyze the growth path for an economy based on socio…

Q: Investment is a     small part of GDP so it accounts for a small share of the fluctuation of…

A: Answer - Investment = Investment is buying of goods which is used  to create future wealth. 1. small…

Q: An economy can be considered healthy if the Real GDP Growth Rate is than the Inflation Rate.

A: GDP refers to the all final value of good and services produced in the domestic territory of the…

Q: Calculate growth rate of real GDP in 2019 compared to 2009. Show calculations

A: Real GDP measures market value of goods and services using constant set of prices.

Q: According to the rule of 70 and 72, a 10% annual increase in real gdp would lead to a doubling of…

A: The rule 70 is an easy method of determining the time period required to double the Real GDP of the…

Q: If GDP is $20 trillion, how many years will it take for GDP to increase to $160 trillion if annual…

A: GDP=20 trillion Annual growth rate=10% Therefore 160*10/100=16

Q: If a country has a per capita GDP of $3,200 and it grows at a 3.1% annual rate. How long will it…

A: GDP refers to the value of all final goods and services produced in an economy over a given period…

Q: Why do large differences in capital per worker lead to relatively small differences in predicted GDP…

A: The marginal product of capital (MPK) continues to decline while the overall development is still…

Q: In 2020, the GDP was approximately $20 trillion.  If GDP is expected to double in 20 years, what is…

A: Given  GDP in year 2020 = $20 trillion  It is expected to double in the next 20 years  It means that…

Q: The following table gives some figures from forecasts of real GDP (in 2005 dollars) and population…

A: The gross domestic product (GDP) is defined as the market value of all the final commodities(goods…

Q: Name and explain three of the five policies to achieve faster economic growth.

A: When comparing one period of time to the next, economic growth refers to an increase in the…

Q: Why is Real GDP a better indicator of productive growth than Nominal GDP ?

A: Gross Domestic Product (GDP) measures the value of final goods and services produced with in the…

Q: In a hypothetical economy, real GDP is $10 trillion, investment is $2 trillion, the capital stock is…

A:

Q: If real GDP grows at an annual rate of 1.19% then we can expect real GDP to double in approximately…

A: We will use the rule of 70 to calculate how many years will it take for the GDP to become its…

Q: lent in the appropriate category. euch state GDP grows faster GDP grows slower when rule of law is…

A: The movement of GDP, a measurement of economic growth, depends upon the economic factors and…

Q: What is the role of guaranteed income as an instrument for activating domestic economic growth?

A: Meaning of Economic Growth: Economic growth refers to an increase in economic variables over a…

Q: 18  If real GDP is 250 in Year 1 and 300 in Year 2, what is the growth rate of real GDP Group of…

A: Given:  real GDP in year 1= 250  real GDP in year 2= 300

Q: If GDP is growing at an annual rate of 6%, in how many years will GDP double?

A: "GDP is the gross domestic product which measures the market value of goods and services produced by…

Q: If a country has a per capita GDP of $4,200 and it grows at a 5% annual rate. How long will it take,…

A: The economies around the world tend to focus on their economic growth, and development. The nations…

Q: What rate of GDP growth would the government need to meet its goal of doubling the population's…

A: If the government want to meet its goal of doubling the living standard in 18 years then they are…

Q: Why would an economist use real GDP rather than nominal GDP to measure growth? Nominal GDP allows…

A: Economic growth refers to an increase in the overall production of final goods and services in an…

Q: If real GDP in year 1 is $487 billion and it is $498 billion in year 2, what is the economic growth…

A: The term real GDP is defined as the inflation-adjusted value of all final products or goods and…

Q: Understand ways we measure growth.

A: The term 'economic growth’ refers to the increase in the national income or total volume of…

Q: Is gross domestic product a reliable indicator of a nation's economic wealth? What might be a better…

A: The GDP is the  value of all  services and goods that are produced in an economy over a certain time…

Q: What is Impact of governement expenditure on economic growth in rwanda

A: After the decimation of 1994 which carried the Rwandan economy to grassroots, the public authority…

Q: Could a country experience a fall in population and a rise ib real gdp at the same time

A: Real GDP is the ratio of Nominal GDP to GDP deflator.