1 3) Consider two fictional economies: Metropolis and Gotham. Based on the followingeconomic statistics, pick one of the two economies, and write a paragraph using 5statistics explaining why their economy is stronger.Metropolis5,000,000,000,000StatisticGDP (constant PPP $)GDP per capita (constant PPP $) 100,000GDP Growth Rate3%GNI (constant PPP $)GNI per capita (constant PPP $)Consumer Price IndexGDP DeflatorGINI IndexCentral Government Debt (as %of GDP)Foreign Direct Investment(constant PPP)Net Financial Account(constant PPP)Unemployment Rate (%)Poverty Rate (%)5,500,000,000,000110,00012511550200.0%1,000,000,00020,000,00010%5%Gotham10,000,000,000133,3335%11,250,000,000150,0001301106550.00%-1,000,000,0004,000,0005%10%

Even though prima facie Metropolis has a higher absolute GDP, we will still say Gotham is stronger…

3) Consider two fictional economies: Metropolis and Gotham. Based on the following economic statistics, pick one of the two economies, and write a paragraph using 5 statistics explaining why their economy is stronger.

3) Consider two fictional economies: Metropolis and Gotham. Based on the following economic statistics, pick one of the two economies, and write a paragraph using 5 statistics explaining why their economy is stronger.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Richland's real GDP per person is $30,000, and Poorland's real GDP per person is $15,000. However, Richland's real GDP per person is growing at 1 percent per year, and Poorland's is growing at 3 percent per year. Compare real GDP per person in the two countries after 10 years and after 20 years. Approximately how many years will it take Poorland to catch up to Richland? Instructions: Enter your responses as whole numbers. GDP per person after 10 years. GDP per person Richland GDP per person after 20 years $ Poorland $ $ Poorland will catch up to Richland in (Click to select)years.
There are two countries in the world: Happytimes and Treehausland. Both countries currently have a GDP per capita of 1. Use the information in the table about growth and productivity to answer the questions. Round all numerical answers to two decimal places. Country Growth rate of GDP per capita Happytimes 0.086 Treehausland 0.031 What is GDP per capita in Happytimes in 21 years21 years ? Happytimes's GDP: $ What is GDP per capita in Treehausland in 21 years21 years ? Treehausland's GDP: $ In 21 years21 years , Happytimes grows how many times more than Treehausland? Happytimes's growth: times Treehausland's growth
15. Refer to the table below for the following questions. Country Country A Country B Country C Real GDP per capita (2000) $38,000 $ 3,250 $ 250 Average annual growth rate of real GDP per capita 1% 2.5% 4% a. Calculate the following ratios of real GDP per capita in 2000. i. Country B to Country A ii. Country C to Country A iii. Country C to Country B b. Using the rule of 70, figure out how many years it will take each country to double their real GDP per capita. Round to one decimal point if needed. c. Calculate the real GDP per capita of each country in year 2140. d. Repeat part (a) for year 2140 using the results from part (c). e. Compare your results from parts (a) and (d) and discuss if this example supports the convergence hypothesis.
1. If real GDP per capita in the United States is $10,000, what will real GDP per capita in the United States be after five years if real GDP per capita grows at an annual rate of 2.9% ? (Show your work and explain your answers.) 2. Chile has a population of 19.5 million and a GDP of $253 billion. Denmark has a population of 6.25 million and a GDP of $327 billion. Which country has a higher standard of living, and why? How did you determine who has the better living standard? (Reference any academic and non-academic articles used to make this determination.) 3. Movement between which points in the following diagram would reflect only a technology change? Movement between which points in the following diagram would reflect only an increase in the available capital per worker? if a country is already fairly wealthy, what should it concentrate more on: increasing capital per worker or encouraging positive technological change? Why? (Explain each answer, do not just list letters.)
You have the following information on 3 countries: Soccerland, Handeggland, and Neverland. How long will it take until Soccerland’s GDP increases by 75%? How long will it take until Soccerland and Handeggland have the same GDP? Soccerland’s population is not happy that, eventually, Handeggland is going to have higher GDP than their country. They feel that they are a much better country, so they are going to work harder to ensure that Handeggland will never catch up with Soccerland. If Soccerland’s new growth rate is constant every year, what is the minimum growth rate that ensures that Soccerland will always have a higher GDP than Handeggland? Neverland’s ambition is to host the World Cup. At the beginning of 2013, its GDP was 2,000 and it was growing at 10% a year. Moreover, it will keep this pace until it hosts the World Cup. In order to host such a big event, Neverland’s GDP must be at least 6,000. After the moment it reaches that GDP level, it will host the World Cup at…
Richland's real GDP per person is $5,000, and Poorland's real GDP per person is $2,500. However, Richland's real GDP per person is growing at 2 percent per year, and Poorland's is growing at 4 percent per year. Compare real GDP per person in the two countries after 10 years and after 20 years. Approximately how many years will it take Poorland to catch up to Richland? Instructions: Enter your responses as whole numbers. GDP per person GDP per person after 10 years Richland $ Poorland $ Poorland will catch up to Richland in (Click to select) GDP per person after 20 years $ $ years.
Assume you are given the following data for country Alpha and country Beta. Country Alpha Beta GDP per Capita $2,500 $15,000 Based only on the GDP per capita data given in the table, you would most likely want to live in Now assume you are given the following additional quality-of-life data. Alpha Beta Life Expectancy at Birth Per Capita Calorie Supply Country Alpha Beta (Years) 70 (Per day) Per Capita Energy Consumption (Kilograms of oil equivalent) 3,500 65 2,500 4,000 3,000 Based on the information in both tables, the nation that you would most prefer to reside is .
The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands. Real GDP and Population over Time Population (thousands of people) 224 228 237 Year 1 2 Real GDP (millions of dollars) $5,847 6,666 7,541 Instructions: Round your answers to one decimal place. a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita) between year 1 and year 2. Real GDP: Population: Standard of living: b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2 and year 3. Real GDP: % % Real GDP per Capita (dollars) $26,103 29,237 31,819 % % Population: Standard of living: c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between year 2 and year 3. %
Homework 5.6 While both India and China have grown tremendously over the last few decades, China appears to have clearly grown more impressively. See the GDP of the two countries in 1990 India GDP of $326 billion, China GDP of $358 billion By 2015, China’s GDP grew to $10.8 trillion India’s GDP grew to $2.07 trillion2 China’s growth > 33%, whereas India’s is > 6% The World Bank suggests that 800 million people have also moved out of poverty in China. The poverty rate fell from 88% of the population in 1981 to just above 4% of the population in 2014. India, cut its poverty level from 60% to 30% of its population between 1981 and 2012. However, the population also increased, so the overall decline in poverty was from 429 million to 400 million.. The growth of China and its effects on its population is visible. The rise of a middle class has turned China into a marketer's dream as a huge 'market' for all products such as automobiles. Question: What reasons can be you attribute for…
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The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands. Real GDP and Population over Time Population (thousands of Real GDP per Capita (dollars) Real GDP (millions of dollars) $5,595 6,329 7,245 Year people) $25,903 216 220 28,768 227 31,916 Instructions: Round your answers to 1 decimal place. a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita) between year 1 and year 2. Real GDP: Population: Standard of living: b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2 and year 3. Real GDP: Population: Standard of living: 1% c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between year 2 and year 3. e to search
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