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An economy starts off with a GDP per capital of

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- If a country’s GDP grows by 10% per year, why isn’t the number of years it takes to double the GDP simply 100%/10% = 10 years?
*arrow_forward*If an economy's GDP will double in 15 years, then its growth rate must be about: 7% 15% 10% 4.7%*arrow_forward*At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over the next 70 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 70 years the value of GDP will be $ million. In 70 years the value of GDP will be times larger than it is today.*arrow_forward* - At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over the next 70 years, how many times will GDP double, assuming the growth rate does not change?
*arrow_forward*If Japan has 4.5% per capita growth in GDP, how many years will it take for the country to triple its per capita GDP? At what growth rate should the country targets if it aimed to double its per capita GDP in 8 years?*arrow_forward*A country starts with real GDP per capita of 500, and is growing at 4.3% per year. After 70 years, real GDP per capita will be approximately...?*arrow_forward* - If country A’s and country B’s GDP per capita are $10,000 and $5,000 this year, respectively. Country A is projected to grow on average 2% a year in the foreseeable future and country B is projected to grow on average 5% a year. How many years will it take for country B’s GDP per capita to equal that of country A? (Show calculation steps.)
*arrow_forward*In a country, if the growth rate of RGDP per person is 5%, how long it will take to double its RGDP per person?*arrow_forward*Based on World Bank data, Philippines real per capita GDP in 2019 was US$3,850. It needs to increase this to at least US$15,000 to attain a high-income country status. By how much should real per capita grown annually if it wants to achieve this status in year a) 2028; b) 2037; c) 2055?*arrow_forward* - if real GDP grows at an annual rate of 3.4% and the population grows at an annual rate of 1.6% then at approximately what rate is the real GDP per capital growing?
*arrow_forward*If the growth rate of real GDP rises from 3% to 4% per year, then the number of years required todouble real GDP will decrease from (please explain how to do this)*arrow_forward*If US per capita GDP is $50,000 and grows at 3% per year, what will US per capita GDP be in 70 years?*arrow_forward*

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