The Central Statistical Bureau of the island nation of Atlantis, which uses the Triton as its...

 

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The Central Statistical Bureau of the island nation of Atlantis, which uses the Triton as its currency, produced the following data for the small country. The population data is in number of persons, and the GDP data is in millions of 1990 Tritons. Year 1990 1991 1992 1993 1994 Population GDP 14000 299.4 305.4 313.0 316.1 323.4 14140 14296 14468 14610 (a) Compute GDP per capita for each year. (b) Using the log approximation, compute GDP growth for each year when the calculation is possible. (c) Using the log approximation, compute population growth for each year when the cal- culation is possible. (d) Using your answers from (1)(b) and (1)(c), compute the log approximation of GDP per capita growth for each year when the calculation is possible. (e) Did the Atlantian economy grow in the year 1993 as measured by GDP? How about as measured by GDP per capita? The Central Statistical Bureau of the island nation of Atlantis, which uses the Triton as its currency, produced the following data for the small country. The population data is in number of persons, and the GDP data is in millions of 1990 Tritons. Year 1990 1991 1992 1993 1994 Population GDP 14000 299.4 305.4 313.0 316.1 323.4 14140 14296 14468 14610 (a) Compute GDP per capita for each year. (b) Using the log approximation, compute GDP growth for each year when the calculation is possible. (c) Using the log approximation, compute population growth for each year when the cal- culation is possible. (d) Using your answers from (1)(b) and (1)(c), compute the log approximation of GDP per capita growth for each year when the calculation is possible. (e) Did the Atlantian economy grow in the year 1993 as measured by GDP? How about as measured by GDP per capita?

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Part a GDP per Capita GDPPopulation Part b Loagrathmic GDP Growth ln Current GDP lnPrev... View the full answer