Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Question
Chapter 6, Problem 10E
a)
To determine
Identify the rate of TFP for a European economy.
b)
To determine
Identify the rate of TFP for a Latin American economy.
c)
To determine
Identify the rate of TFP for Asian economy.
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If a country experiences real economic growth of 12% per year, it can go from being one of the poorest to one of the richest in
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Only answer the 2nd MCQ question of the growth rate of output per capita
All values are 2005 dollars.
Part a) Calculate the growth of GDP/capita in each column.
Part b) Calculate the average annual growth in GDP/capita for japan, uk, and USA from 1980 to 2010 using the growth formula in the image. In the growth function, t is the current time period, t-j is the original time period, and g is the annual growth rate.
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Chapter 6 Solutions
Macroeconomics (Fourth Edition)
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