In 1960 GDP per capita in the Republic of Korea (constant 2015 US$) was $1027. In 2021 it was $32731. Calculate the growth rate of real GDP per capita in the Republic of Korea over this period. Now suppose that the Republic of Korea grows at the same rate for the 70 years following 2021. What will the Republic of Korea real GDP per capitae in the year 2091? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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In 1960
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- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
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- Suppose a country has a real GDP per capita of $69,000 and grows at a constant rate for the next 49 years. How much larger (in percentage terms) is this country if its growth rate is 4.13% instead of 3.05% after 49 years of growth? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.Real GDP per capita in the country of Arcadia grew from about $4.545 in 1900 to about $40.064 in 2008, which represents an annual growth rate of 2.04 percent IH Arcadia continues to grow at this rate, calculate the number of years when its real GDP per capita will double years. (Enter your response as an integer)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.
- Assume real per capita GDP in West Swimsuit is $8,000 while in South Darlinia it is $2,000. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%. How many years will it take for South Darlinia to catch up to the real per capita GDP of West Swimsuit? What will the income of the two countries be when it is equal? type answer only. Do it correctly. Multiple votes will given accordingly.Singapore's real GDP was 412 billion dollars in 2016 and 429 billion dollars in 2017. The population was 5.6 million in 2016 and 5.6 million in 2017. Calculate Singapore's economic growth rate in 2017, the growth rate of real GDP per person in 2017, and the approximate number of years it will take for real GDP per person in Singapore to double if the 2017 economic growth and population growth rates are maintained. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over the next 70 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 70 years the value of GDP will be $ million. In 70 years the value of GDP will be times larger than it is today.
- GDP per capita in the United States was approximately $63,000 in 2020. Use the growth formula (see below) to answer the following questions: Growth formula: (future value) = (present value) × (1 + r)t present value = this year's GDP per capita future value = GDP per capita in the future r = rate of growth (in decimal form) per year What will GDP per capita be in the year 2025 if it grows each year by 2.5 percent?a) −11.27% b) −5.91% c) 2.26% d) −15.15% Refer to the table, which shows data for the United Arab Emirates (UAE). What was the economic growth rate in the UAE in 2012? United Arab Emirates Year GDP per person (constant U.S. dollars) 2007 47,283.90 2008 42,456.79 2009 36,024.06 2010 33,893.30 2011 34,634.86 2012 35,416.89Economic growth and Production Function Practice 1) The following values relate to the countries below for the following 3 years in terms of Real GDP: Years Canada 1.722 trillion 1.742 trillion Tajikistan 7.765 billion Netherlands. 913.6 billion 2018 2019 8.301 billion 907.1 billion 2020 1.643 trillion 8.194 billion 912.2 billion a) Calculate the Real gdp growth rate for each country and between the following 2 periods (2018-2019 and 2019-2020) b) State how long it will take for each country in 2020 in order to double their levels of real gdp. c) Which country is more likely to achieve economic growth faster? why do you think this is?
- Starting from year 2023 and assuming that both the annual growth rates of RGDP and population will remain at the levels in the table below, choose the correct statement: Average RGDP growth Average population Country 2010-2019 (%) growth 2010-2019 (%) China 7.68 0.56 India 6.62 1.23 Vietnam 6.58 1.02 Singapore 4.99 1.34 Data Source: World Bank O India will double its real GDP per person in 2036. Vietnam will double its real GDP per person in 2036. O Singapore will double its real GDP per person in 2043, while China 10 years earlier. O All the aboveSuppose China’s GDP is growing by 7% a year and its population grows by 1% a year. Also suppose that US GDP grows by 3% a year and its population grows by 1% a year, and that in 2019 US GDP is 1.5 times China’s while US population is one quarter of China’s. If these growth rates continue By what year will China’s GDP double? Its population? Its per capita GDP?In what year will China’s GDP equal US GDP?In what year will China’s GDP per capita equal US GDP per capita?Year 1960 1980 Argentinal 2018 $5,643 Percentage of Real GDP per 1960 2018 capita real real (2010 GDP GDP dollars) per per capita capita 7,908 ? 2000 8,224 ? The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita in 2010 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1980, 2000, and 2018. 10,044 ? ? ? ? C Ghana Real GDP per 1960 capita real (2010 GDP dollars) per Percentage of 881 $1,056 ? 952 capita ? ? 1,807 ? 2018 real GDP per capita ? ? ? 2. South Korea Real GDP per capita (2010 dollars) $944 Percentage of 15,105 1960 real GDP per capita ? 3,700 ? ? 26,762 ? 2018 real GDP per capita ? ? ? ?