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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

What has been the approximate long-run growth rate of real GDP per person in the United States? Name a country that has had faster growth and a country that has had slower growth.

To determine

Growth rate of Real GDP per person.

Explanation

Table 1 shows the GDP growth rate for different countries.

Table 1

CountryPeriodGrowth rate of Real GDP per person per year (in %)
Brazil1900 – 20142.61
Japan1870 - 20142.59
China1900 – 20142.53
Mexico1900 – 20142.31
Germany1870 - 20142.11
Indonesia1900 – 20142.10
Canada1870 - 20141.99
India1900 – 20141...

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