If in 2008 China’s real GDP is growing at 9 percent a year, its population is growing at 1 percent a year, and these growth rates continue, in what year will China’s real GDP per person be twice what it is in 2008?

Q: Italy is a relatively rich country with per-capita GDP of $28,000. India is a relatively poor with…

A: The rule of 70 is a means of estimating the number of years it takes for an investment or money to…

Q: real GDP

A: GDP or gross domestic product is the value of the goods & services that are produced within the…

Q: Why do we measure economic growth using Real GDP rather than Nominal GDP

A: Real GDP, It is  the total value of goods and services produced Within a political boundary of a…

Q: Last year, real GDP in Oceania was $620 billion and the population was 2.3 million. The year before,…

A:

Q: Mexico's real GDP was 14,461 billion pesos in 2016 and 14, 702 bilion pesos in 2017 Mexico's…

A: Real GDP growth rate shows the  a percentage that shows the rate of change in a country's GDP  ,…

Q: Suppose an economy's real GDP is $ 30,000 in year 1 and $ 31,200 in year 2.  Instructions: In part a…

A: Given: Real GDP in year 1 is equal to $30,000 and real GDP in year 2 is equal to $31,200.

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: Suppose that work hours in New Zombie are 300 in year 1, and productivity is $14 per hour worked.…

A: Real GDP = total value of final goods and services domestically produced in a year calculated at…

Q: Fill in the blank   Italy is a relatively rich country with per-capita GDP of $28,000. India is a…

A: Given:

Q: what is differences in the types of incentives that economists propose for increasing economic…

A: Answer: Eсоnоmiс  develорment  inсentives  stаte  аnd  lосаl  gоvernment  effоrts  tо  enсоurаge…

Q: How much should a nation be concerned if its rate of economic growth is just 2% slower than other…

A: The small difference in the rate of growth makes larger economic effect over a long period of time…

Q: if real GDP increases from $100 bilion to $105 billion, and the population increases from 100…

A: HERE WE CALCULATE THE GROWTH RATE OF REAL GDP BY USING THE GIVEN INFORMATION  WHICH ARE AS FOLLOW-

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: If real GDP was $9,950 billion in Year 2008 and $10,270 billion in Year 2009. What was the rate of…

A: Growth means an increase in real GDP in such a manner that productivity increases and it causes an…

Q: Does a country need to be well endowed with natural resources in order to experience rapid long-term…

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

Q: In the second half of the twentieth century, Japan experienced exceptional growth. According to…

A:

Q: 4.2 I dont understand how im supposed to do this without any numbers to use

A: In this case the rule of 70 is used.The rule of 70 basically estimates the number of years in which…

Q: Explain the difference between long-run and short-run economic growth!

A: In an economy, economic growth is explained in two different periods such thay short-run and…

Q: n the year 2015, the real GDP per capita of Italy is $215 billion. In the year 2016, the number is…

A: Real GDP is production of goods and services during an accounting year. it makes adjustments in…

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: Assume GDP per capita in constant dollars was $30,250 for 2003 and $40,000 for 2004. In this case,…

A: GDP is the measure of value of all the final goods and services produced in an economy in a given…

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: Growth in real GDP per capita Initial level of real GDP per capita Refer to Figure 11-5. Based on…

A: Catch up effect is also know an the theory of convergence which postulates that poorer or developing…

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: sources of productivity growth in an economy

A: Productivity growth is very important for any economy. Productivity can be defined as the value of…

Q: In order to achieve economic growth we need to either gain more resources or new

A: Economic growth is characterized as an expansion in a country's production of labor and products. An…

Q: How can you say that there is an economic growth in a particular country? Cite some instances to…

A: Economic growth is an important indicator of the development of a country. Most of the developed…

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: In 2017, the productivity level of both Germany and the US was $ 72 per hour. Germany's productivity…

A: Productivity indicates the efficiency of inputs used in a production process. It measures the ratio…

Q: Suppose that in a particular country, nominal gross domestic product(GDP) grew by 8 percent and the…

A: In an economy, nominal GDP provide information about the total income generated in a specific year,…

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: Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2…

A: Here, real GDP per person-year before last year =500000/2=250000 real GDP per person last year…

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: Suppose that work hours in New Zombie are 300 in year 1, and productivity is $10 per hour worked.…

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

Q: Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s…

A: GDP: The GDP or the gross domestic product can be defined as the value of the final goods and…

Q: Q)1 a) Canada​'s real GDP was 2,016 billion dollars in 2017 and 2,053 billion dollars in 2018.…

A: Given: Real GDP: 2017=$ 2016 billion 2018=$2053 billion

Q: If the GDP (t) of Japan is $997.50B today and this country is expecting its GDP (t+1) to be $1,076.9…

A: Given the present GDP of Japan = $997.50 Expected GDP = $1076.9

Q: Small differences in growth rates in the size of the economy, over several decades, will result in…

A: GDP means total value of goods and services produced in national boundaries in a year . And real GDP…