Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
7th Edition
ISBN: 9780134472669
Author: Blanchard
Publisher: PEARSON
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Chapter 1, Problem 3QAP
a)
To determine
To Plot: Spreadsheet for next 100 years and years required for C’s level of output to be equal to the U.S.
b)
To determine
To check: Whether C’s standard of living will be the same as that of the U.S. when both countries have productivity.
c)
To determine
To suggest: Ways C adopted to increase output and whether it will be applicable to the U.S or not.
d)
To determine
To ascertain: Whether C’s model can be adopted by other countries or not.
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Students have asked these similar questions
The data of for 1960 shows that the real GDP per capita was $6,354 for Japan, $12,282 for Germany, and $13,780 for the United Kingdom. (2011
US$).
Suppose Japan maintained a 3% annual growth rate of real GDP per capita, Germany a 2% annual growth rate and the United Kingdom a 1%
annual growth rate.
Then which of the three countries will have the highest real GDP per capita in 2040? (Click to select)
The real GDP per capita in 2040 for Japan:
The real GDP per capita in 2040 for Germany: [
The real GDP per capita in 2040 for the United Kingdom:
(Give your answer rounded to the nearest whole number)
:
Spain's current real GDP (YO) is €326 billion, and grows at a constant rate of 1.1%. Portugal's current real
GDP is smaller (€55 billion), but they are experiencing a constant 4.8% growth rate.
Part a) Calculate the real GDP for both countries 30 years, 50 years and 70 years from now. Allow the
calculator to carry decimals in your intermediate calculations, but round GDP to the nearest billion Euro.
Use these rounded values throughout the rest of the problem.
Part b) Calculate the percentage difference in real GDP between the two countries for each 20-year
interval. Report your answer in percentage form, rounded to the nearest integer.
Part c) Suppose Portugal's goal is to catch up to Spain's GDP in 25 years. What growth rate must they
sustain each year if they are to accomplish their goal? Express your answer as a percentage, rounded to
one decimal place.
Qatar GDP per capita was 93,792 in 2017 and $90,070 in 1970. What was its annualized growth rate during this period? (Both figures are in 2011 international dollars.) if your answer is 1.72%, please write 1.72
Chapter 1 Solutions
Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
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