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This year, if two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Annual Real
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- In 1989, America's GDP per capita was approximately 30,000 (measured in today's dollars). How much higher in percentage terms was America's GDP per capita in 2015?Between 1970 and 2005, Chinaâs GDP per capita grew at an average rate of 7.3% per year while GDP per capita in the US grew at an average rate of 2.2%. In 2005, US GDP per capita was $36,806 and Chinese GDP per capita was $5,955. Assuming that the two countries continue to grow at these rates, in what year will China overtake the US in terms of GDP per capita?Richland’s real GDP per person is $10,000 and Poorland’s real GDP per person is $5,000. However Richland is growing at 1% per year and Poorland is growing at 3% per year. Compare real GDP per person after 20 years and after 40 years. Please enter your answers as numerical responses rounded to the nearest dollar, and do not type out your answer as words. (ie. $13,452 not "Thirteen thousand four hundred fifty-two dollars"). What is Richland's Real GDP after 20 years? What is Richland's Real GDP after 40 years? What is Poorland's Real GDP after 20 years? What is Poorland's Real GDP after 40 years?
- County A & Country B both recorded an increase in real GDP of 5% per year from 1970 to 2005. During this time, the population of country A grew at 7% per year & the population for Country B grew at 3%. Which of the following is true during this period? a. Per capita GDP was the same for both Country A & Country B b. Per capita GDP decreased for Country B only c. Per capita GDP decreased for both Country A & Country B d. Per capital GDP decreased for Country A onlyAssume that an economy has 1,000 workers, each working 2,000 hours per year. If the average real output per worker-hour is $20, then total output, or real GDP, will beWhat is GDP? What is real GDP ? What is per capita GDP ? Why is our GDP shrinking in the ongoing Corona Virus Crisis? What is a clear indication that the GDP will be decreasing?
- The United Nations Human Development Report gives the following data for real GDP per person in 2018: China, $15,270; Russia,$24,233; Canada, $43,433; United States, $54,941. Life expectancy at birth is 79.3 in Canada, 78.8 in the United States, 76.6 in China, and 72.3 in Russia. Freedom House rates political freedom each year, and its ratings are asfollows: Canada, 1.0; the United States, 1.5; Russia, 6.5; and China, 6.5 ((1.0 is the most free and 7.0 is the least free). How do life expectancy at birth and political freedom change the relative ranking of living standards that real GDP per person indicate? Question content area bottom Part 1 A. They don't change the relative ranking because they rank countries in a similar way as real GDP per person ranks them. B. They completely reverse the relative ranking because they rank countries exactly opposite to the way that real GDP per person ranks them. C. They don't change…Goods and services that are not sold in markets, such as food produced and consumed at home, are generally not included in GDP. As a result, you would expect the GDP per person in India and the United States will differ by_____ than their actual comparative economic well-being.Which of the following would cause the value of a nation's GDP to increase in a given year? An increase in the sale of illegal goods in the economy An increase in the sale of used cars More people choose to stay at home to raise their children rather than using paid childcare Households spend more on domestic air travel
- Real GDP per capita is NOT an adequate measure of the well-being of each person in an economy. average real GDP per person in the economy. a country's average aggregate output per person. a country's average aggregate spending per person.which of the below statements about the U.S. GDP do you think is INCORRECT? Group of answer choices India has a GDP that is many times the size of the GDP of Israel. Yet, of the two, Israel is considered to be the richer economy because it has a higher per capita income. GDP may give us a measure of economic prosperity, but it is at best an imperfect measure, since it does not indicate the level of happiness, leisure, literacy, life expentancy, environmental preservation, or other such factors that may improve the quality of human life. China achieved its rapid rate of GDP growth in the 21st century with little, if any, environmental depletion or pollution.Suppose that real GDP in 2018 is $245,676 million and the population in 2018 is 4.8 million. Real GDP per capita in 2018 is