Access the Discovering Data exercise for Chapter 15 online to answer the following questions. a. What was
Question:
Access the Discovering Data exercise for Chapter 15 online to answer the following questions.
a. What was the ratio of Japanese GDP per capita relative to the United States in 1950 and 1991?
b. Why has Japan’s GDP converged to that of the United States?
c. Rank the countries in order of richest to poorest (with 1 being the richest) in 1960 and 2010.
d. What was the ratio of GDP per capita for Spain relative to the United States in 1960 and 2010?
e. Which two countries experienced the fastest rate of convergence from 1960 through 2010?
f. Why are lower-income countries, like South Korea in 1960, able to grow faster than rich countries?
g. If countries continue along a similar path, will Japan, South Korea, Chile, or Spain be the first country to reach the level of real GDP per capita in the United States?
Step by Step Answer:
