Income per capita in the poorest countries of the world is just five percent of the U.S. These differences in income are most due to.O Differences in capital per workerO Differences in education per workerO Differences in total factor productivityO Differences in the costs of energy across countriesO We do not have enough information

When talking about the differences in the poor country and a rich country, it can be said that it is…

Income per capita in the poorest countries of the world is just five percent of the U.S. These differences in income are most due to. Differences in capital per worker Differences in education per worker Differences in total factor productivity Differences in the costs of energy across countries We do not have enough information

Income per capita in the poorest countries of the world is just five percent of the U.S. These differences in income are most due to. Differences in capital per worker Differences in education per worker Differences in total factor productivity Differences in the costs of energy across countries We do not have enough information

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...

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In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
Non-high-income countries are found in O a. In Asia, Western Europe, North America, and Africa O b. It can be found in all parts of the world O c. In Africa, South America, Asia, and Western Europe O d. In Africa, Asia, Eastern Europe, and Latin America O e. In Africa, Latin America, North America, Asia, and Europe
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What is the largest contributing factor to human population growth during the 20th and 21st century? a decrease in birth rates an increase in death rates O a decrease in death rates O an increase in birth rates
120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
1. Haiti is one of the poorest countries in the world. Suppose you were asked to be an advisor to the policymakers of Haiti. Please briefly discuss two policies that you would recommend to them to promote economic development in their country.
How can the wealth of the nations measured by the using per capitagross national income (GNI)?
Consider the following diagram, which includes a concave line of best fit: 40,000- •US 35,000 - 30,000 - •Belgium Switzerland •UK 25,000 - •Japan 20,000- • •Taiwan 15.000 - 10,000 - •Ecuador 5,000- aindia 0. 10.000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Figure 15 3 Canital ond GDP ner worker across countries in 199n Which of the following statements is correct? Select one: O a. The line of best fit suggests that if capital intensity doubles, output per person doubles. O b. The line of best fit implies that there are diminishing returns to scale. O c. The line of best fit suggests that the USA may have a higher value of "z" than Japan. O d. Workers in Japan were more productive than in the UK because they had higher capital per worker. GDP per worker (1985 PPP $)
Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP r capita be in 70 years? S Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year) If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year)
C I G NX Price Yr1 1000 156 560 52 4 Yr2 1300 159 600 52 5 Yr3 2000 169 690 53 6 Yr4 2900 180 880 53 7 Population Yr1 2 Yr2 2 Yr3 3 Yr4 3 Using the information above: State what real GDP per capita will be for all four years. (round to the whole number for all calculations and final answers) State what the change in real GDP per capita will be from year 1 to…
Assume that a very tiny and very poor DVC has income per capita of $300 and total national income of $3 million. Instructions: Round your answers to the nearest whole number. a. How large Is its population? 10000 b. If Its population grows by 2 percent in some year while its total income grows by 4 percent, what will be its new Income per capita rounded to full dollars? c. If the population had not grown during the year, what would have been its income per capita?
Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar? How are they different?