Answered: Which of the following would lead to an…

Which of the following would lead to an increase in real GDP per capita all other things equal? * a decrease in population an increase in population an increase in prices

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 32P: An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it...

See similar textbooks

Related questions

Q: From 2015 to 2018, the following statistics apply to Country A and Country B is depicted in the…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: If personal income is the currently the same in two countries "India" and "China," but India has a…

A: Personal income is the amount of money collectively received by the inhabitants of a country.

Q: Indicate which economy satisfies each of the following statements. Statement Austria Botswana…

A: Real income is the income of individuals after adjusting the rate of inflation. It is estimated by…

Q: In 1980 Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million.…

A: Before we solve the above problem, let us first understand some key concepts: While GDP measures…

Q: if A's GDP is higher than country's B GDP, does it follow that country A has a higher per capita GDP…

A: Gross domestic product (GDP) is the monetary value of all final goods and services produced within a…

Q: In 1989, America's GDP per capita was approximately 30,000 (measured in today's dollars). How much…

A: In 1989, America's GDP per capita was approximately $30,000. In 2015, America's GDP per capita is…

Q: In 2000 GDP per capita was 18.3, capital/output was 3.3, human capital was 4.8. In 2010 GDP per…

A: The relationship between production output and production inputs is represented by a Cobb-Douglas…

Q: The table shows real GDP per capita (RGDPPC) for the fictitious country of Amerucana for a…

A: The growth rate of RGDPPC from 2011 to 2012 can be calculated as follows.

Q: dollars

A: The catch up growth is also known as theory of convergence . According to this theory , the poor or…

Q: Discuss whether GDP per capita is the most appropriate measure of economic success

A: GDP: The money value or monetary value of all finished commodities produced in the domestic…

Q: Which of the following two countries A and B ceteris paribus do you expect to have the higher…

A: A - Country A will have higher level of GDP growth because it features a higher GDP per capita

Q: the growth rate of potential GDP is not affected by a. the growth rate of nation's capital stock…

A: Potential GDP is the anticipated GDP that would be experienced if an economy is at full employment.…

Q: Effective usage of Natural Resources and Technological Change is required for any economic…

A: Economic development is described as the process in which economies having low income are…

Q: In your opinion, will real GDP or per capita real GDP be a better indicator in measuring well-being…

A: GDP is the money value of all final goods and services produced in an economy during a specific…

Q: In the countries of South Asia in 1992, only 56 young women were enrolled in secondary school for…

A: The opportunities for education is an important factor which leads to economic growth in the…

Q: Discuss the merits and demerits of real GDP per capita a measure of a country’s living standard

A: The average national income per person that adjustable for inflation is referred to as real GDP per…

Q: An increase in the amount of human capital in the economy will ["decrease",…

A: Human capital refers to the cumulative knowledge, methods, skills, experience, personality…

Q: In 2001, the GDP of China was $6000. Suppose that China has a growth rate of 6.2%. a. What is…

A: The GDP in 2001 was $6,000. Growth rate = 6.2% The future value of GDP can be calculated as: Future…

Q: It is not possible for a country to experience A. economic growth and economic development…

A: Answer. Option- d Economic development without economic growth is correct. Economic development is…

Q: should the GDP per capita in the united states be higher than Canada's

A: GDP of the country helps in the measurement of total goods and services produced by the…

Q: What creates or stimulates the rate of economic growth in the economy, in macroeconomics

A: In macroeconomics, the rate of economic growth comes from the demand side and supply side.…

Q: The International Property Right Index scores countries based on the legal and political environment…

A: Three countries with high scores as per the International Property Right Index (2019) are: (1)…

Q: Research the following National Development Indicators and explain briefly: Gross Domestic Product…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: Texas 45,091 58.417 Colorado 47,335 59,057 Ohio 42,086 51.456 What is the difference in terms of…

A: The average annual growth rate (AAGR) is the common boom or lower withinside the cost of an funding…

Q: In 2000, a small nation has real GDP of $20,000 and a population of 150. By 2010, real GDP has grown…

A: Since you have posted multiple questions, as per guidelines we can solve only the first question per…

Q: South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million.…

A: South Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. GDP…

Q: A nation's real GDP was $300 billion In Year 1 and $309 billion in Year 2. Its population was 120…

A: Real GDP measures the value of goods and services produced in an economy with prices constant. GDP…

Q: An economy starts off with a GDP per capita of 12,000 euros. How large will the GDP per capita be if…

A: Per Capita when the economy grows at an annual rate of 3% for 10 years…

Q: True or False: Countries that currently have low real GDPs per capita are destined to always have…

A: A lower real GDP population has a lot to do because there is a potential to expand faster than…

Q: 2001, a country had a real GDP of $30,000,000 and in 2002, real GDP was $40,000,000. What was the…

A: The real GDP is the inflation adjusted level of GDP in the economy. The GDP is the summated money…

Q: (a) Total output per hour in each year (b) Growth rate in output per hour in each year (c)…

A: Productivity of labor is the output produced by labor in given period of time. Productivity can be…

Q: A small county wants to increase its real GDP from $18,000 to $36,000. If they want this to happen…

A: If annual average growth rate is g, then Initial GDP x (1 + g)N = New GDP

Q: With three economies, each of which has a GDP per capita of $100. Trend growth in these economies is…

A: GDP per capita is measured as the ratio of total gdp and population . it shows how a person earn…

Q: hich statement is NOT true? a. Government expenditure has direct control of a country's economic…

A: Government expenditure is aimed at stabilizing economy and reducing income inequalities. Government…

Q: What can you say about Turkey in the average GDP growth for the next 3 years (2021-2023)?

A: Because of the impact of covid-19 pandemic,Turkey is expected to see decline in GDP in the next 3…

Q: A rise in the GDP per capita over time most likely to indicate Select one: O a. that the national…

A: GDP is defined as the total production of all goods and services within territory of the country in…

Q: Identify whether each factor is more likely to be associated with a rich country (high real GDP per…

A: Since rich countries (high real GDP per capita) have better education and health infrastructure and…

Q: lent in the appropriate category. euch state GDP grows faster GDP grows slower when rule of law is…

A: The movement of GDP, a measurement of economic growth, depends upon the economic factors and…

Q: Suppose country A has a GDP of 4000 with a population size of 200; country B has GDP of 9000 with a…

A: Here we calculate the which country is more likely have better living standard by calculating the…

Q: Consider two countries. Country A has a population of 1,000, of whom 800 work 8 hours a day to make…

A: Let us consider both the countries one by one. Country A :- Population = 1000 Number of workers =…

Q: What measure of economic development that is used most often to classify nations as industrially…

A: Real per capita income is one of the major economic development that is used most often by the…

Q: If a nation's real GDP is growing by 6 percent per year, its real GDP will double in approximately…

A: We shall use the concept called as Rule of 70. To estimate a the time it would take for the nation's…

Q: Which of the following would not necessarily lead to long-term economic growth

A: A rise in the output of goods and services in an economy is referred to as economic development.…

Q: We measure standards of living using GDP per capita. Using the production function, which of the…

A: Total production function shows the how each inputs determine the total output For example,…

Question

Which of the following would lead to an increase in real GDP per capita all other
things equal? *
a decrease in population
an increase in population
an increase in prices
O a decrease in aggregate output
the use of chain-linking

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.
Refer to the diagram to answer the following: a. The movement from point A to point B represents: b. The movement from point B to point C represents: c. The movement from point A to point C represents Real GDP per hour Worked Y/L ($, 000) 1,000 900- 800- 700- 600- 500- 400 200- 100- Aggregate Production 0 ljuds 300-midifi E Tommyformemberit A 8 D 20 40 00 80 Capital per hour worked K/L (5,000) 100 O Q
worn out in the production process. ment Now IzMe: Section 2.7 uge your comprehension of this section. To begin, please click the wnward arrow located at the top right of this box. Assignment Score: 0.00% Submit Assignment for Grading Save ns tu2et10h_Ch02_Sec07.02m « Question 2 of 3 » Check My Work Three different economies have made choices about the production of capital goods. Which of the following is most likely to produce the greatest growth in the production possibilities curve (PPC)? O a. Less production of capital goods than what is needed to replace worn-out capital. Ob. Capital goods produced at the exact rate needed to replace worn-out capital. c. More production of consumption goods that replace worn-out capital. O d. Greater production of capital goods than what is needed to replace worn-out capital. MacBook Air DD F6 EZ F8 F9 F10 F11 F12 & * 6 7 8 { P + 000
Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…
Time remaining: 01:59:30 Economics 1: Suppose the nation of Utopia has the following national income and product accounts.Depreciation 50Exports 65GDP 500Gross Private Domestic Investment 90Government Purchases of goods & services 100Government transfer payments 80Imports 75Income paid to foreigners for their contribution to domestic output 15Income received by citizens for factors of production supplied abroad 20a. What are Personal Consumption Expenditures?b. What is GNP?c. What is Net Private Domestic Investment? 2:Suppose I offer to give you $1000 in two years if you give me $900 today. Is this a good deal if . . a. the interest rate is 2%?b. the interest rate is 5%?c. the interest rate is 10%?
Assume that an economy is operating inside its PPF Explain how you would use the PPF to measure the ocost to the economy of operating insidethe PPFHint: You should use the terms potential GDP and GDP gap in your answer
As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
Would you usually expect GDP as measured by what is demanded to be greater than GDP measured by what is supplied, or the reverse?
How can a decline of natural resources and biodiversity affects a country's Gross National Product and Gross Domestic Product? Pls explain further
QUESTION TWOSuppose that the economy of Mwaliteta Republic has the following data for some economic variables. Assume that Mwaliteta Republic has a population of 500,000 people.Variable Amount in million ZMWExpenditure on Non-durable goods 98Non-residential fixed investment 79Central government expenditure 60Local government expenditure 82Expenditure on durable goods 82Expenditure on services 99Export expenditure 60Inventory Investment 5Depreciation 4Property income from abroad 12Indirect taxes 12Residential fixed investment 42Personal income tax…
This is not writing assignment, But its a homework given by my school. Pls answer all parts of this question in simple words. a.) How will COVID impact China’s GDP and consumption? b.) How did COVID affect manufacturing production, especially in China? c.) How would this affect the global economy and balance of trade?
Which of the following is not included in macro environment? O a. Competitors b. Economic O C. Political o d. Demographic