Brief Principles of Macroeconomics...
Solutions
Brief Principles of Macroeconomics...
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.
Growth rate of Real GDP per person.
Table 1 shows the GDP growth rate for different countries.
Table 1
| Country | Period | Growth rate of Real GDP per person per year (in %) |
| Brazil | 1900 – 2014 | 2.61 |
| Japan | 1870 - 2014 | 2.59 |
| China | 1900 – 2014 | 2.53 |
| Mexico | 1900 – 2014 | 2.31 |
| Germany | 1870 - 2014 | 2.11 |
| Indonesia | 1900 – 2014 | 2.10 |
| Canada | 1870 - 2014 | 1.99 |
| India | 1900 – 2014 | 1... |
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