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 10, Problem 5QAP
To determine
To explain: Reason for lower growth rates in spite of the technological progress in United States.
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Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
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- In your opinion, why do some countries experience sustained levels of high growth that propel them into the ranks of the rich while others stagnate seemingly in perpetuity?arrow_forwardWhich of the following is NOT a reason why middle-income countries in the east have experienced rapid growth rates? Group of answer choices The countries developed abundant new technologies which drove growth These countries had a strong policy structure that supported human capital investments These countries encouraged participation in the world markets These countries accrued larger savings and invested it domesticallyarrow_forwardModern economic growth theory asserts that "depending up on how much human capital they have, and how much of it they devote to the R and D sector, developing countries can get stuck at different but inferior state of self-sustaining growth (multiple equilibrium)" True Falsearrow_forward
- Consider two distinct countries, denoted as A and B. Initially, Country A had a per capita GDP of $10,000 and experienced a growth rate of 10%, while Country B had a per capita GDP of $40,000 and experienced a growth rate of 2%. Assuming that the growth rates remain unchanged, which country will have a higher per capita GDP when t = 35 time periods (years)? O Country B O Country A O All of these choices are correct. They are the samearrow_forwardHypothetical data is given for the following countries. Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth = 2.8 percent; real output growth=-1.6 percent. Real growth per capita: % b. Estonia: population growth-(0.6) percent; real output growth-4.5 percent. Real growth per capita:[ % c. India: population growth=1.7 percent; real output growth = 5.9 percent. Real growth per capita: [ % d. United States: population growth 0.7 percent; real output growth = 2.8 percent. Real growth per capita: [arrow_forwardWhat were the effects of Divergence on economic growth in Europe and China?arrow_forward
- Population growth surges rapidlyarrow_forwardAnswer the following options Q#9) What has been true about the long term growth rate and growth path followed by the advanced nations since 1750 – the dawn of the “industrial revolution”? (a) GDP growth has been modest, continuing the same trend from previous eras (b) GDP growth has increased enormously due to technical advances Q#10) When the government takes the lead and pro-actively guides, supports and fosters technology advances and innovation, such as with the Internet, in aero- space (NASA) or Covid19 vaccines, which theory of economic growth is utilized? (a) Neo-Classical Theory (b) Classical Theory (c) New Growth Theoryarrow_forwardIn the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and USA in 1950 shown in the Madison table.arrow_forward
- This question is about the Solow-Swan growth model.arrow_forwardCalculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth=2.6 percent; real output growth = -1.4 percent. Real growth per capita:% b. Estonia: population growth=-0.3 percent; real output growth 4.3 percent. Real growth per capita: % c. India: population growth = 2.1 percent; real output growth 6.2 percent. Real growth per capita: % d. United States: population growth = 0.4 percent; real output growth 2.6 percent. Real growth per capita: %arrow_forwardInternational data show a positive correlation between political stability and economic growth. Through what mechanism could political stability lead to economic growth?arrow_forward
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