The number of years for the standard of living to double

Question

Want to see the full answer?

Answer 1

Question

Chapter 11, Problem 11.4.9PA

Sub part (a):

To determine

The number of years for the standard of living to double

Sub part (b):

To determine

The reason for sluggish growth.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Homework 5.6 While both India and China have grown tremendously over the last few decades, China appears to have clearly grown more impressively. See the GDP of the two countries in 1990 India GDP of $326 billion, China GDP of $358 billion By 2015, China’s GDP grew to $10.8 trillion India’s GDP grew to $2.07 trillion2 China’s growth > 33%, whereas India’s is > 6% The World Bank suggests that 800 million people have also moved out of poverty in China. The poverty rate fell from 88% of the population in 1981 to just above 4% of the population in 2014. India, cut its poverty level from 60% to 30% of its population between 1981 and 2012. However, the population also increased, so the overall decline in poverty was from 429 million to 400 million.. The growth of China and its effects on its population is visible. The rise of a middle class has turned China into a marketer's dream as a huge 'market' for all products such as automobiles. Question: What reasons can be you attribute for…

None

Go to a recent issue of The Economist magazine. In the back of each issue is a section called “economic indicators.” That section lists the most recent growth data for a substantial number of countries. Which countries around the world are growing most rapidly according to the most recent data? Which countries around the world are growing more slowly? Flip through the stories in The Economist to see if there is any explanation for the pattern that you observe. Write a brief essay on current general economic conditions around the world.