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 5RQ
To determine
The amount of savings per capita in DVC and IAC.
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Question 2
Suppose that the production function is Y = 10K5L5, the population growth rate is 15 percent
and the depreciation rate is 5 percent. What is the steady state level of k if the economy saves 30
percent?
O 400
O 225
100
O 1000
Question 3
Suppose that the production function is Y 10K SL5, the population growth rate is 15 percent
and the depreciation rate is 5 percent. What is the steady state level of y if the economy saves 30
percent?
250
350
150
O 450
In the year 2014, the world's average per capita GDP was $14,517. What percent of the world's population
lived in a country with per capita GDP that was below $14,517?
O 21%
43%
56%
OOOO
73%
Show Transcribed Text
Roughly what percent of the world's population live in countries with per capita GDP lower than the average
world per capita GDP?
75%
50%
© 25%
C
10%
If real GDP per capita in the United States is $5,000, what will real GDP per capita in the United States be after
3 years if real GDP per capita grows at an annual rate of 2%?
O $4,520
O 55,000
$5,306
O $5,560
Chapter 42 Solutions
Economics (Irwin Economics)
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