Question: Please consider the real GDP per capita data provided below. Country Real GDP Per Capita 1960, 2010 US Dollars Growth in Real GDP Per Capita,

  1. Please consider the real GDP per capita data provided below.

Country

Real GDP Per Capita 1960, 2010 US Dollars

Growth in Real GDP Per Capita, 1960-2019, in %

Canada

16,406

1.99

Mexico

3,907

1.70

Turkey

3,175

2.75

Sweden

18,062

2.02

South Africa

4,624

0.82

Source: World Bank

  1. The GDP data are standardized in three dimensions. One, for example is population. What are the other two?

  1. Plot the growth rate of each country against that country's 1960 Real GDP per capita. Just a simple scatter plot will do. Are the data consistent with the convergence prediction of traditional economic growth models? Explain.

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