Consider the following table displaying annual growth rates for nations X, Y, and Z, each of which

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Consider the following table displaying annual growth rates for nations X, Y, and Z, each of which entered 2011 with real per capita GDP equal to $20,000:
Consider the following table displaying annual growth rates for nations

a. Which nation most likely experienced a sizable earthquake in late 2011 that destroyed a significant portion of its stock of capital goods, but was followed by speedy investments in rebuilding the nation's capital stock? What is this nation's per capita real GDP at the end of 2014, rounded to the nearest dollar?
b. Which nation most likely adopted policies in 2011 that encouraged a gradual shift in production from capital goods to consumption goods? What is this nation's per capita real GDP at the end of 2014, rounded to the nearest dollar?
c. Which nation most likely adopted policies in 2011 that encouraged a quick shift in production from consumption goods to capital goods? What is this nation's per capita real GDP at the end of 2014, rounded to the nearest dollar?

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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