Macroeconomics (MindTap Course List)
10th Edition
ISBN: 9781285859477
Author: William Boyes, Michael Melvin
Publisher: Cengage Learning
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Question
Chapter 16, Problem 11E
To determine
If Botswana's economy grew at a rate of
Calculate the real
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Suppose a country a real GDP of $175. What will the size of the GDP be after 13 years if the economy grows by 2.6% each year? Round your answer to two digits after the decimal without the dollar sign.
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Chapter 16 Solutions
Macroeconomics (MindTap Course List)
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- 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 isarrow_forwardReal GDP is GDP adjusted for changes in: a. production. b. average wages. c. unemployment. d. inflation. e. interest.arrow_forwardIf a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately ________. Answer to 2 decimal places.arrow_forward
- GDP in 1981 was $2.96 trillion. It grew to $3.07 trillion in 1982, yet the quantity of output actually decreased. How is this possible?arrow_forwardThe Real GDP for a country is $450 million in 2020. The population of the country is 125 million as of 2020. In 2010, the GDP was 4% lower, and the population was 115 million.arrow_forward
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