If personal income is the currently the same in two countries "India" and "China," but India has a faster annual growth rate in personal incomes, which country will have a higher income  in the future

Q: the population growth rate increases by 10% what would be the impact on the country's production a.…

A: Answer is given below

Q: Which of the following is the per capita real GDP growth rate if a country''s real GDP growth rate…

A: GDP growth rate: It measures the percentage change in the overall output level in an economy during…

Q: In 2021, a nation’s population was 10 million. Its nominal GDP was $40 billion, and its price index…

A: Economic growth is calculated as a percentage change of real GDP per capita of two countries.

Q: If a country were to increase its saving rate, then in the long run it would also increase its…

A: The answer is - Growth rate of productivity

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: Why did the average GDP growth rate declined in Western Europe during the period of 1913- 1950…

A: It is the total value of goods and services that are produced in a country during a given period of…

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: Explain how the saving rate and the rate of population growth affect the steady-state level of…

A: Steady State Growth: A steady-state growth rate refers to an economy that grows at a constant rate.…

Q: In 2001, the GDP of China was $6000. Suppose that China has a growth rate of 6.2%. a. What is…

A: The GDP in 2001 was $6,000. Growth rate = 6.2% The future value of GDP can be calculated as: Future…

Q: It is not possible for a country to experience A. economic growth and economic development…

A: Answer. Option- d  Economic development without economic growth is correct. Economic development is…

Q: Of the following countries, which one had the highest average growth rate per year from 1993-2012?…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: Identify the factors which are the drivers behind a countries rate of growth. Describe the relevance…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: In Philippine context, list down the positive correlation of remittances to the economic growth.…

A: Remittances are the money transfers that are sent by people working abroad to their home country.…

Q: Texas 45,091 58.417 Colorado 47,335 59,057 Ohio 42,086 51.456 What is the difference in terms of…

A: The average annual growth rate (AAGR) is the common boom or lower withinside the cost of an funding…

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: 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: Shows how the graph will look for the positive relation between growth rate and standard of living…

A: When a country grows and started producing more output the standard of living for the people's also…

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: Compared to China, the US has a higher growth rate of output per capita Higher worker productivity a…

A: The correct option is all of the above. Compared to China, the US has higher growth rate of output…

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: List the positive correlation of remittances to the economic growth. Explain why and how remittances…

A: The domestic citizens who work in the foreign country sends  a part of their salary to the relatives…

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: 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: In 1960, per-capita GDP in Japan was 1/3 of that in the UK. By 1990, Japan and the UK had equal GDP…

A: Following formulas are used, Total growth rate of per capita GDP = Average growth rate of per capita…

Q: An increase in the standard of living of citizens of a country can be best measured by the growth…

A: Per capita nominal GDP:-                            Nominal GDP per capita=Nominal GDPPopulation…

Q: According to 2019 data, Japan will continue to be the most aged country in the world until 2050.…

A: In Japan, it is said thatthe labor force will decrease by 13 million by 2040.

Q: Define economic growth and explain what it means in terms of standards of living

A: Standard of living alludes to the degree of riches, solace, material merchandise, and necessities…

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: Explain about the positive relation between growth rate and standard of living of a country.

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital…

Q: Which is NOT a source of convergence of GDP (Gross Domestic Product) per capita between rich and…

A: The convergence of GDP (Gross Domestic Product) per capita between rich and poor countries means…

Q: What can you say about Turkey in the average GDP growth for the next 3 years (2021-2023)?

A: Because of the impact of covid-19 pandemic,Turkey is expected to see decline in GDP in the next 3…

Q: Achieving higher gross domestic product (GDP) growth is the prime aim of every developing country.…

A: Yes. It is true that for any developing economy, GDP growth rate acts as an index for its…

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: 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: In economics, we should know about the standard of living, the knowledge about Solow growth model…

A: Solow's growth model is designed to show how growth in the capital stock, growth in the labor force,…

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: Two countries start with equal GDPS. The economy of Country A grows at an annual rate of 3 whereas…

A: Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to…