Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Chapter 18, Problem 7RQ
To determine
Whether the statement about the US national income is true or false.
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In the year 2014, the world's average per capita GDP was $14,517. What percent of the world's population
lived in a country with per capita GDP that was below $14,517?
O 21%
43%
56%
OOOO
73%
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Roughly what percent of the world's population live in countries with per capita GDP lower than the average
world per capita GDP?
75%
50%
© 25%
C
10%
1. LO 2 In the Malthusian model, suppose that the
quantity of land increases. Using diagrams, deter-
mine what effects this has in the long-run steady
state and explain your results.
those three questions please (first one is on top question 11)
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- need answer asaparrow_forward006.25.0 - MC - MANK08 D Over the last century, U.S. real GDP per person grew at a rate of about a. 2 percent per year, so that it is now 2 times as high as it was a century ago. Ob. 2 percent per year, so that it is now 8 times as high as it was a century ago. O c. 4 percent per year, so that it is now 2 times as high as it was a century ago. d. 4 percent per year, so that it is now 8 times as high as it was a century ago. Darrow_forward3. The world was growing at a constant growth of 0.00007% rate between 100,000 BC and 1750AD. If birth rates per thousand averaged 35 during this period , what was the average death rate in equilibrium. (approximately) O 31 35 40 8. Which of the following statements is correct? A model is an exact representation of what goes on in the economy. Equilibrium in GDP growth rate is when the growth rate is zero. A model is an economic relationship that is only represented by mathematics. Equilibrium is a self-perpetuating situation that does not change, unless a force for change is introduced from the outside and alters the basic data describing the situation. 9. According to Malthus, which of the following are the not the causes of diminishing average product of labor? Environmental effects of over-cultivation (e.g. increased carbon emissions) Increase in population growth rate More labour is devoted to a fixed quantity of land. The new land brought into cultivation is of inferior quality…arrow_forward
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