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roauction Function At Start Assignment Due Wednesday by 11:59pm Points 30 Submitting a text entry box or a file upload Assignment 1 1. If real GDP per capita in the United States is $8,000, what will real GDP per capita in the United States be after 5 years if real GDP per capita grows at an annual rate of 3.2%? (Show your work and explain your answers.) 4 2. Sweden has a population of 9.05 million, and a GDP of $3.85 billion. Ireland has a population of 4.21 million, and a GDP of $2.23 billion. Which country has a higher standard of living, and why? How did you determine who has the better living standard? (Reference any academic and non-academic articles used to make this determination.) 3. Movement between which points in the following diagram would reflect only a change in technology? Movement between which points in the following diagram would reflect only an increase in the available capital per worker? If a country is already fairly wealthy, what should they concentrate more on: increasing capital per worker, or encouraging positive technological change? Why? (Explain each answer, do not just list letters.) Real GDP |