THE DECREASE IN GROWTH SINCE 1973 Use Table 15–1to answer the following questions:

a. Compute what output per capita would have been in 2010 for each of the fi ve rich countries if the growth rate from 1973 to 2010 for each country had remained the same as during 1950 to 1973.

b. What would have been the ratio of output per capita in Japan relative to output per capita in the United States?

c. Did convergence continue during the growth slowdown from 1973 to 1999?

d. Make a graph with time on one axis and the natural logarithm of GDP per capita on the other (like the ln function on your calculator or in Excel). Plot the values of real output per capita in 1950 and 2010 from Table 15–1for Japan and Canada. Calculate the slope of the line between 1950 and 2010 for both countries.

e. Compare the slope of the lines above to the growth rates of real output per capita in Canada and Japan listed in Table 15–1 . What do you notice?

f. Use the “rule” of 70 to calculate how many times real output per capita doubled in Japan between 1950 and 1973.