Essentials of Economics (MindTap Course List)
8th Edition
ISBN: 9781337091992
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 17, Problem 7PA
To determine
Property rights and its effect.
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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.
For most high-income countries of the world, GDP _________________ over time.
has proven to be stable
has risen gradually
has declined slightly
has sharply risen
Draw a graph of "catch-up" that shows where you would expect to see a country with low saving rates and low levels of health and education. How would you expect real GDP per capita to grow in a country like this? Explain your answer.
Chapter 17 Solutions
Essentials of Economics (MindTap Course List)
Ch. 17.1 - Prob. 1QQCh. 17.2 - Prob. 2QQCh. 17.3 - Prob. 3QQCh. 17 - Prob. 1CQQCh. 17 - Prob. 2CQQCh. 17 - Prob. 3CQQCh. 17 - Prob. 4CQQCh. 17 - Prob. 5CQQCh. 17 - Prob. 6CQQCh. 17 - Prob. 1QR
Ch. 17 - List and describe four determinants of...Ch. 17 - Prob. 3QRCh. 17 - Prob. 4QRCh. 17 - Prob. 5QRCh. 17 - Prob. 6QRCh. 17 - Prob. 7QRCh. 17 - Prob. 8QRCh. 17 - Prob. 1PACh. 17 - Prob. 2PACh. 17 - Prob. 3PACh. 17 - Prob. 4PACh. 17 - Prob. 5PACh. 17 - Prob. 6PACh. 17 - Prob. 7PACh. 17 - Prob. 8PACh. 17 - Prob. 9PA
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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?arrow_forwardDiscuss whether GDP per capita is the most appropriate measure of economic successarrow_forwardWith three economies, each of which has a GDP per capita of $100. Trend growth in these economies is 2%, 2.5%, and 5% respectively. Calculate GDP per capita for each economy after 5,10,20,50, and 100 years.arrow_forward
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