Question: please help and explain Question 3 1 pts At an annual growth rate of 2.8%, approximately how long does it take for real GDP per

please help and explain

Question 3 1 pts At an annual growth rate of 2.8%, approximately how long does it take for real GDP per capita to increase from $15,000 to $60,000 in a country? 100 years 50 years O 40 years 60 years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

ECON202 Quiz 4 (2024 Q1) (1) This is a preview of the draft version of the quiz Started: Feb 20 at 10:45am Quiz Instructions Instructions: - You have FIVE attempts for this quiz. - | will only keep...

22help me expert tutors. (a) Suppose a monopolist sells its product in two different markets separated by some distance. The demand curves in the markets given by q1 = 110 -2p1 and q2 = 35 - pz....

ed Time Remaining: 3 4 m 4 s 3 4 minutes 4 seconds Hide Answers are saved automatically Hand In All your answers will automatically save as you proceed through the test. EXAM# 2 IMPORTANT! Please,...

our answers will automatically save as you proceed through the test. EXAM# 2 IMPORTANT! Please, read BEFORE you take the test. This is a TIMED test covering lectures# 6 - # 1 1 . You will have 5 0...

QUESTION 1 In the one-period closed-economy equilibrium model, an increase in government spending G will ______________. A.reduce hours worked B.lower output C.raise private consumption and output...

Suppose that real GDP per capita of country A doubles in 20 years. The annual population growth rate is 1% and the annual inflation rate is 2%. Based on this information to answer questions 17 - 20....

Please help...thank you! PART A - MULTIPLE CHOICE QUESTIONS 1. Real GDP is nominal GDP adjusted for: A) double counting. B) changes in prices. C) population. D) imports. 2. What do a rubbernecking...

Following the war, Grandpa Frank was very bullish on the potential of the French market. He saw a country that would not only experience short-term growth through its rebuilding effort, but also...

If employers win major wage concessions in many industries, what will be the effect on short-run aggregate supply? Question 1 options: It will shift right (a decrease in aggregate supply). It will...

I would like someone to help me towrite-up with impression and thoughts with your own words. I do not want summarize but provide your impression and thoughts only for at least one page. Journal of...

For the following pairs of variables, identify the response variable and the explanatory variable. a. Number of square feet in a house and assessed value of the house. b. Political party preference...

Name three factors that influence managements choice of depreciation or amortization policy.

What is the adjusting entry to record the deferred revenue that is earned? Increase (debit) asset and decrease (credit) revenue Decrease (debit) liability and increase (credit) revenue Increase...

Find the critical point using the equation of state of a gas and find the compressibility factor at the critical point: p = R T v - b - a v 5 2 where p , T , v and R are pressure, temperature, molar...

=+ d. Suppose that both countries start off with a capital stock per worker of 2. What are the levels of income per worker and consumption per worker? Remembering that the change in the capital stock...

=+ 2. In the discussion of German and Japanese postwar growth, the text describes what happens when part of the capital stock is destroyed in a war. By contrast, suppose that a war does not

=+directly affect the capital stock, but that casualties reduce the labor force. Assume the economy was in a steady state before the war, the saving rate is unchanged, and the rate of population...