Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. Below is a table with data on 2014 population (in millions), real GDP (in millions of 2011 PPP$), and total capital stock (also in
2. Below is a table with data on 2014 population (in millions), real GDP (in millions of 2011 PPP$), and total capital stock (also in millions 201 1 PPP$). US the data to carry out the following calculations (use a spreadsheet for these calculations; paste your answers). Note: data in a form of a spreadsheet is also in our Canvas files folder. Assume the production function is given by Y = A K1/3L 2/3 a. Compute GDP per capita (y) b. Create a bar graph comparing GDP per capita in this group of countries. c. Compute capital per capita (k).\fCameroon 22.77 61,050 139,672 Canada 35.59 1,522,929 6,097,225 Ecuador 15.90 173,686 614,166 Egypt 89.58 965,651 1,272,877 Iceland 0.33 12,894 59,351 Indonesia 254.45 2,453,519 13,456,787 Israel 7.94 248,048 795,840 Italy 59.79 2,087,831 13,027,931 Jamaica 2.78 20,034 135,655 Malawi 16.70 16,218 57,264 Malaysia 29.90 639,648 1,937,424 Niger 19.11 16,591 78,982 Singapore 5.51 363,712 1,607,120 Tajikistan 8.30 26,411 187,423 Thailand 67.73 920,186 3,705,161 Ukraine 45.00 461,576 1,586,456 United States 319.45 16,490,883 52,849,892 Zimbabwe 15.25 29,001 86,135
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started