ECO 2143: Macroeconomic Theory II Assignment 1 (Due at the beginning of the class on 20 January) Please submit the printed copy. Submit only outcome, not the data. Question 1 Go to the Web page of the World Bank https://data. worldbank.org/indicator and download data on GDP per capita (constant 2010 US$) for all countries. Using these data from 1960 to 2018 (or the latest year that the data are available), compute the annual growth rate of per capita income for each country. Then plot GDP per capita in 1960 on the x-axis and the annual growth rate on the y-axis (like Figure 15-2 in the textbook). Does these data support the convergence hypothesis? Why? Question 2 Using these data find the country that grew the fastest in GDP per capita in each decade. Use average decade-wide annual growth rate (for example, the average of 10 growth rates from 1961 to 1970 will yield one point, from 1971 to 1980 another point, and so on). Plot the decade-wide fastest per capital income growth country for each decade? Let us call this curve as global growth rate frontier. Is the growth rate for each subsequent decade lead country accelerating? Question 3 Which are the top 10 richest non-OPEC countries in 1970? How many of them remained the top 10 richest countries in 2018? For the top 10 richest countries in 1970, what is the ratio of their income in 2018 to that in 1970