EBK MACROECONOMICS
6th Edition
ISBN: 8220103116688
Author: O'Brien
Publisher: PEARSON
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Question
Chapter 11, Problem 11.4.5PA
Sub part (a):
To determine
The consistency level of the catch-up effect with the given figure.
Sub part (b):
To determine
The consistency level of the catch-up effect with the given figure.
Sub part (c):
To determine
The consistency level of the catch-up effect with the given figure.
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The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands.
Real GDP and Population over Time
Population
(thousands of
people)
224
228
237
Year
1
2
Real GDP
(millions of
dollars)
$5,847
6,666
7,541
Instructions: Round your answers to one decimal place.
a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita)
between year 1 and year 2.
Real GDP:
Population:
Standard of living:
b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2
and year 3.
Real GDP:
%
%
Real GDP per
Capita (dollars)
$26,103
29,237
31,819
%
%
Population:
Standard of living:
c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between
year 2 and year 3.
%
Chapter 11 Solutions
EBK MACROECONOMICS
Ch. 11 - Prob. 11.1.1RQCh. 11 - Prob. 11.1.2RQCh. 11 - Prob. 11.1.3PACh. 11 - Prob. 11.1.4PACh. 11 - Prob. 11.1.5PACh. 11 - Prob. 11.1.6PACh. 11 - Prob. 11.1.7PACh. 11 - Prob. 11.1.8PACh. 11 - Prob. 11.2.1RQCh. 11 - Prob. 11.2.2RQ
Ch. 11 - Prob. 11.2.3RQCh. 11 - Prob. 11.2.4RQCh. 11 - Prob. 11.2.5RQCh. 11 - Prob. 11.2.6PACh. 11 - Prob. 11.2.7PACh. 11 - Prob. 11.2.8PACh. 11 - Prob. 11.2.9PACh. 11 - Prob. 11.2.10PACh. 11 - Prob. 11.2.11PACh. 11 - Prob. 11.2.12PACh. 11 - Prob. 11.3.1RQCh. 11 - Prob. 11.3.2RQCh. 11 - Prob. 11.3.3PACh. 11 - Prob. 11.3.4PACh. 11 - Prob. 11.3.5PACh. 11 - Prob. 11.3.6PACh. 11 - Prob. 11.4.1RQCh. 11 - Prob. 11.4.2RQCh. 11 - Prob. 11.4.3RQCh. 11 - Prob. 11.4.4PACh. 11 - Prob. 11.4.5PACh. 11 - Prob. 11.4.6PACh. 11 - Prob. 11.4.7PACh. 11 - Prob. 11.4.8PACh. 11 - Prob. 11.4.9PACh. 11 - Prob. 11.4.10PACh. 11 - Prob. 11.4.11PACh. 11 - Prob. 11.4.12PACh. 11 - Prob. 11.5.1RQCh. 11 - Prob. 11.5.2RQCh. 11 - Prob. 11.5.3PACh. 11 - Prob. 11.5.4PACh. 11 - Prob. 11.5.5PACh. 11 - Prob. 11.5.6PACh. 11 - Prob. 11.5.7PACh. 11 - Prob. 11.5.8PACh. 11 - Prob. 11.1RDECh. 11 - Prob. 11.2RDECh. 11 - Prob. 11.3RDE
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