Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 23, Problem 11APA
(a)
To determine
Estimate the value of growth rate of real GDP.
(b)
To determine
Estimate the value of growth rate of real GDP per person.
(c)
To determine
Estimate the number of years to double the growth rate of real GDP per person.
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Students have asked these similar questions
Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s population was 195 million in 2011 and 196.5 million in 2012. Calculate
a. The growth rate of real GDP
b. The growth rate of real GDP per person c. The approximate number of years it takes for real GDP per person to double when the real GDP growth rate and the population growth rate are maintained.
Q)1
a) Canada's real GDP was 2,016 billion dollars in 2017 and 2,053 billion dollars in 2018. Canada's population growth rate in 2018 was 0.8 percent. Calculate Canada's economic growth rate and growth rate of real GDP per person in 2018.
b) Calculate the approximate number of years it will take for real GDP per person to double if an economy maintains an economic growth rate of 12 percent a year and a population growth rate of 7 percent a year.
Australia's real GDP was $A1,730 in 2017 and $A1,782 in 2018.
Australia's population was 24.6 million in 2017 and 25.0 million in 2018.
Calculate
a. The growth rate of real GDP.
b. The growth rate of real GDP per person.
c. The approximate number of years it will take for real GDP per person in Australia to double if the current real GDP growth rate and population growth rate are maintained.
Chapter 23 Solutions
Macroeconomics
Ch. 23.1 - Prob. 1RQCh. 23.1 - Prob. 2RQCh. 23.1 - Prob. 3RQCh. 23.2 - Prob. 1RQCh. 23.2 - Prob. 2RQCh. 23.2 - Prob. 3RQCh. 23.3 - Prob. 1RQCh. 23.3 - Prob. 2RQCh. 23.3 - Prob. 3RQCh. 23.3 - Prob. 4RQ
Ch. 23.3 - Prob. 5RQCh. 23.3 - Prob. 6RQCh. 23.4 - Prob. 1RQCh. 23.4 - Prob. 2RQCh. 23.4 - Prob. 3RQCh. 23.5 - Prob. 1RQCh. 23.5 - Prob. 2RQCh. 23.5 - Prob. 3RQCh. 23 - Prob. 1SPACh. 23 - Prob. 2SPACh. 23 - Prob. 3SPACh. 23 - Prob. 4SPACh. 23 - Prob. 5SPACh. 23 - Prob. 6SPACh. 23 - Prob. 7SPACh. 23 - Prob. 8SPACh. 23 - Prob. 9APACh. 23 - Prob. 10APACh. 23 - Prob. 11APACh. 23 - Prob. 12APACh. 23 - Prob. 13APACh. 23 - Prob. 14APACh. 23 - Prob. 15APACh. 23 - Prob. 16APACh. 23 - Prob. 17APACh. 23 - Prob. 18APACh. 23 - Prob. 19APACh. 23 - Prob. 20APACh. 23 - Prob. 21APACh. 23 - Prob. 22APACh. 23 - Prob. 23APACh. 23 - Prob. 24APACh. 23 - Prob. 25APA
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