If the growth rate in an economy is 2%, its GDP will double in about:    48 years.            140 years.            70 years.            35 years.

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: 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: Please define and discuss Economic Growth with examples

A: Economic growth means a rise in the production of goods & services in a country. It means a rise…

Q: 21) If real GDP grows from $10 trillion in 2002 to $10.5 trillion in 2003, the growth rate for real…

A: here we calculate the growth of real GDP which are as follow-

Q: An emerging country has a real GDP of $1446.7 billion. After one year, real GDP has grown to $1534…

A:

Q: Economic growth is best defined as an increase in:

A: It is important to measure economic growth for knowing the the position of countries economy.

Q: It is observed that in a country in a given period of 20 years the average GDP growth rate has been…

A: Gross Domestic Product :  GDP is a measure of the size of a country's economy. When GDP goes up, the…

Q: If Real GDP is $22 million in 1995 and $132 million in 2005, what is the economic growth rate?…

A: We could solve this with the help of formula

Q: South Africa's economic growth rate in 2018 was percent. percent. The growth rate of real GDP per…

A: Economic growth rate:  Economic growth rate is the percentage of the value of the real gross…

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: At an annual growth rate of 3.5% it will take approximately years for a country's GDP to double.…

A: Part A: Let the original GDP be x and the double of this GDP is 2x. Let’s calculate - how many years…

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

A: Given:Years required to double real GDP per capita=25 yearsRate of population growth=0.9% per year

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: If real GDP in the year 2000 was 100 and the growth rate is 5 per cent per annum what will be the…

A: The formula: Real GDP after n th year=real GDP now *(1+g)n n=years=2100-2000=100 years g=growth rate…

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: Malaysia’s real GDP was $560 billion in 2010 and $570 billion in 2011. Malaysia’s population was…

A: i. Economic growth rate = {(GDP at present value -GDP at initial value)/ GDP at initial value}* 100…

Q: Why is real GDP a better measure of economic growth than nominal GDP?

A: Nominal GDP refers to the total value of finished goods and services that produced within the…

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: 2001, a country had a real GDP of $30,000,000 and in 2002, real GDP was $40,000,000. What was the…

A: The real GDP is the inflation adjusted level of GDP in the economy. The GDP is the summated money…

Q: In a given year the nominal GDP growth rate is 10%, with inflation and population growth rates of 5%…

A: Given, Nominal GDP growth = 10% Inflation growth rate = 5% Population growth rate = 2%

Q: Four Reasons why economic growth is important for a country

A: Gross domestic product is the market value of final goods and services that are produced within the…

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: Long-run economic growth can occur as a result of

A: Economic growth occurs as a result of increase in GDP.

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: 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: In 2018, India was the world’s seventh largest economy, with a $2.69 trillion GDP (as measured in…

A: GDP is the indicator utilized across the globe to demonstrate the wellbeing of a country's economy:…

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: Calculate GDP growth rate

A: GDP: The Economic growth of a country is measured in GDP terms where GDP is the measurement of the…

Q: growth in real GDP is not always seen as economic growth. why?

A: GDP or Gross Domestic Product refers to final market values of all goods and services produced in a…

Q: Suppose there is an increase in the saving rate. We know that this will cause an increase in which…

A: Solow growth model is an exogeneous growth model which argues that in the short run growth is…

Q: At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over…

A: Using rule of 70, Doubling period = 70 / annual growth rate = 70 / 2 = 35 years

Q: The GDP growth has been limited to 1% in the Ottoman economy in the period of 1820-1913. How can you…

A: GDP: It is the final value of goods and services that are produced within a country during a…

Q: Average Growth Rate (2000-2015) of Per Capita GDP Population GDP High-income countries United States…

A: Per capita GDP is expressed as the ratio GDP of a country and total population. It is shown as…

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: Discuss three policies the government can implement in order to increase the growth factors in their…

A: Government policies to extend economic process are focused on trying to extend aggregate demand…

Q: At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over…

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

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 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…

Q: The measure of GDP for economic growth is not always perfect. Describe any two problems that are…

A: Solution: Gross domestic product GDP (Gross domestic Value) is the total value of goods and services…