Assuming UAE’s 2021 economic growth is projected to be 3.5%. How long will it take to double the size of that economy? Show your calculations.

Q: From 2015 to 2018, the following statistics apply to Country A and Country B is depicted in the…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: Evaluate the view that increased investment is the most important factor in achieving a faster rate…

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

Q: An emerging country has a real GDP of $1553.1 billion. After one year, real GDP has grown to $1677…

A: Real GDP is the money value of all final goods and services produced in an economy corrected for…

Q: A nation's real GDP was $250 billion in Year 1 and $270 billion in Year 2. Its population was 120…

A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…

Q: Level of GDP in year 0 equals 100. In the next four years rate of nominal annual GDP growth is…

A: Nominal GDP, year 1 = 100 x 1.07 = 107 Nominal GDP, year 2 = 107 x 1.07 = 114.49 Nominal GDP, year 3…

Q: What is the Growth of Real GDP per capita if population growth is 0.5%?

A: Real GDP Per Capita is the resulting value arrived at by dividing the entire economic output (GDP)…

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: List the four major elements that determine productivity growth. Choose one of these factors and…

A: Productivity growth is measured by the number of goods produced within the borders of the country.

Q: À nation's real GDP was $300 billion in Year 1 and $309 billion in Year 2. Its population was 120…

A: When the total amount of goods and services produced in the economy by taking into consideration of…

Q: Calculate the real GDP growth rate for 2019, if real GDP in 2018 is 500 Euros and real GDP in 2019…

A: GDP is the value of final goods and services produced in the country.

Q: Answer if TRUE OR FALSE • Population growth rate has a major effect/impact on the economy of the…

A: In a country, population refers to the number of people living in the country and earning their…

Q: Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year…

A: Rule of 70: - it gives the number of years in which an amount of money gets doubled at a particular…

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: A nation's real GDP was $300 billion In Year 1 and $309 billion in Year 2. Its population was 120…

A: Real GDP measures the value of goods and services produced in an economy with prices constant. GDP…

Q: What does the level of a nation's GDP measure?What does the growth rate of GDP measure?Would you…

A: As per national income accounting, the income earned by an economy during a period can be gauged by…

Q: In year 2012, the size of an economy is equal to $15 trillion; in 2013, it increases to $16.5…

A: Given that: GDP2012 = $15 tnGDP2013 = $16.5 tn Let us calculate the growth rate: g = GDP2013 -…

Q: Calculate the average annual growth rate using the information in the table below. Round to two…

A: The average annual growth rate shows the average rise or fall in any concerned value over the given…

Q: How can a nation’s budgets support growth

A: A budget in economics is described as the estimation of expenses and revenues over a particular…

Q: Understanding of growth is important because it means that the country wants to grow in which region…

A: Economic growth refers to an increase in the value of goods and services produced in the economy…

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

A: The real GDP of a country relies upon the input of labour multiplied by the productivity of labour.…

Q: To improve problems with the economy, the government must reduce regulations and legal requirements…

A: LIBERALS are those who believe in governmental action for the achievement of equal opportunity and…

Q: What policies do you think Brazil should adopt going forward to reignite economic growth?

A: Economic prospects for Brazil are dwindling after a long period of rapid development. There has been…

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: 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: if two countries have the same Savings rates why is there  Growth rates different?

A: Economic growth is one of the major goals for all the economies across the world. The development of…

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: what causes two countries to have similar savings rates but different growth rate

A: Savings rate is the necessary condition but not sufficient condition for growth.

Q: List the factors that account for increases or decreases in productivity growth rates.

A: The measure that depicts the number of goods and services or output being produced by making use of…

Q: relate the terms: increase, growth.

A: Economics refers to the human behavioral study in response of utilizing the scarce resources, that…

Q: How come higher saving leads to more rapid growth?

A: The higher savings means the resources and incomes of the nationals has been used in consumption at…

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: If a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately…

A: We shall use the concept called as Rule of 70. To estimate a the time it would take for the nation's…

Q: How many years will Colombia grow with a GDP of $323 billion dollars at a growth rate of 4%?  7)…

A: The correct answer is given in the second step.

Q: how higher saving in a country leads to a higher growth rate in that country.

A:

Q: D7) Some economists argue that it is possible to raise the standard of living by reducing population…

A:

Q: Why do you think it is difficult for high-income countries to achieve high growth rates?

A: In a macroeconomic sense, for a country to grow and become high income, there needs to be an…