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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
BuyFind

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

Solutions

Chapter
Section
Chapter 12, Problem 7PA
Textbook Problem
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The International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three countries with high scores and three countries with low scores. Then find estimates of GDP per person in each of these six countries. What pattern do you find? Give two possible interpretations of the pattern.

Expert Solution
To determine

Property rights and its effect.

Explanation of Solution

The countries with high international property rights index scores include Finland, New Zealand, Luxembourg, and Norway with 2014 per capita GDPs $35,900, $30,400, $77,900 and $55,400, respectively. On the other hand, countries with low international property rights index scores (with per capital GDP 2014 in the parenthesis) include Venezuela ($13,600), Haiti ($1,300), Myanmar ($1,700), and Bangladesh ($2,100)...

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Chapter 12 Solutions

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