Economics (Irwin Economics)
21st Edition
ISBN: 9781259723223
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 42, Problem 4DQ
To determine
The demographic transition.
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On the following scatter plots, the 1960 real per capita GDP is on the x-axis and the y-axis represents the average economic
growth rate between 1960 and 2017. Which one shows the strongest evidence in favour of convergence?
O
2.5
1960-2017 growth (percent)
2.0
1.5
1.0
3
2
5
5
Convergence
10
1960 GDP (constant dollars per person)
Convergence
15
10
15
1960 GDP (constant dollars per person)
20
20
- Suppose that work hours in New Zombie
are 200 in year 1, and productivity is $8
per hour worked. What is New Zombie's
real GDP? If work hours increase to 210
in year 2 and productivity rises to $10
per hour, what is New Zombie's rate of
economic growth? LO8.4
QUESTION 11
Using the Rule of 70, a country will roughly double its GDP in thirty-five years if its annual growth rate is
However, if its annual growth rate is 5%, its GDP will roughly double in
O 2 percent; 14 years
O 7.5 percent; 10 years
O 3.5 percent; 5 years
O 2.5 percent; 25 years
Chapter 42 Solutions
Economics (Irwin Economics)
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