The GDP at Q101 is 250600 and the GDP at Q102 is 260700. What is the total GDP growth between Q101 and Q102? Select one: O a. 4% O b.2.9% O C8.27% O d. None O e. 6.15%
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- An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?Would you expect capital deepening to result in diminished1etmns? Why or why not? Would you expect improvements in technology to result in diminished returns? Why or why not?
- d. Suppose that society decided to reduce consumption and increase investment.i. How would this change affect economic growth? ii. What groups in society would benefit from this change? iii. What groups might be hurt?(42). Economic development is measured by. a) an increase in the aggregate level of output. O b) an increase in per capita output. O c) an increase in economic activity without any underlying change in the fundamental structure and institutions of a country. O d) All of the above.a. What do you understand by Real GDP? What is the Real GDP Growth Rate of India andChina in 2019? What is the estimated real GDP growth rate of India and China in 2020?What is the projected real GDP growth rate of India and China in 2021 and 2022? b. What is the estimated 2022 GDP Loss (in percentage) in comparison to pre-covid levels(January 2020 forecast) in China and Other Emerging Economies in Asia other thanChina
- Suppose that 10 workers were required in 2010 to produce 40,000 bushels of wheat on a 1,000-acre farm. a. What is the average output per acre? Per worker? b. If in 2020 only 8 workers produce 44,000 bushels of wheat on that same 1,000-acre farm, what will be the average output per acre? Per worker? c. By what percentage does productivity (output per worker) increase over those 10 years? Over those 10 years, what is the average annual percentage increase in productivity?4. We sometimes need to find out how long it will take a sum of money (or something else, such as earnings, population, or prices) to grow to some specified amount. For example, if a company’s sales are growing at a rate of 20% how long will it take sales to double? (Hint: Assume that your current level of sales is at 100 units and find out how long it will take to get to 200 units if sales grow at 20% each year. Solve for N. Make sure you put the PV or FV as a negative number.). Suppose that society decided to reduce consumptionand increase investment.a. How would this change affect economic growth?b. What groups in society would benefit from thischange? What groups might be hurt?
- Productivity is generally measured as: O output per year. O nominal output over time. O real output over time. O output per worker. ASay that the average worker in Canada has a productivity level of $30 per hour while the average worker in the United Kingdom has a productivity level of $25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1% per year while worker productivity intheUKgrows3%peryear.Afterfiveyears,whowill have the higher productivity level, and by how much?a) Assume a hypothetical society that decides to reduce consumption (production of consumption goods) and increase investment (production of capital goods). How would this change affect economic growth? What groups in society would benefit from this change? What groups might be hurt? kindly solve all parts