You were familiarized with GDP in this module. Sometimes, economic topics seem pretty remote and not immediately related to our everyday lives. However, think about COVID 19 in 2020. While many Americans were affected by the virus, many more were impacted by the decreased economic activity and new ways of doing business put in place trying to contain the virus. Which of the changes made do you think might end up being permanent and kept in place after the pandemic is contained?

You were familiarized with GDP in this module. Sometimes, economic topics seem pretty remote and not immediately related to our everyday lives. However, think about COVID 19 in 2020. While many Americans were affected by the virus, many more were impacted by the decreased economic activity and new ways of doing business put in place trying to contain the virus. Which of the changes made do you think might end up being permanent and kept in place after the pandemic is contained?

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter20: Growth And Less Developed Countries

Section: Chapter Questions

Problem 3SQP

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Suppose there are only two small countries in the world: Ascot, with a population of 30,000 people, and Delwich, with a population of 20,000 people. Ascot’s GDP is equal to $150 million, while Delwich’s GDP is $250 million. Delwich’s GNP has been estimated to be equal to $280 million. Use this information to calculate Ascot’s GNP, the GDP per capita in Ascot, and the GNP per capita in Delwich.
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