For numerical responses, unless otherwise specified, round your results to two decimal places. For example, if your result is 15.276, your answer will be "15.28"; if your result is 24.342, your answer will be "24.34"; if your result is 18.996, your answer will be "19".

The following table contains demographic and economic data for three countries: the United States, China, and Greece.

		United States	China	Greece.
2007	Real GDP (in billions of 2005 US dollars)	14010,80	7119,40	311,10
	Population (in millions of inhabitants)	301,3	1320,7	11,2
2000	Real GDP (in billions of 2005 US dollars)	9898,80	3013	201,00
	Population (in millions of inhabitants)	282,2	1266,90	10,9

2) Evaluate the standard of living in 2007 for each of these three countries. answers in figures only, in the boxes of the table provided for this purpose.

Caution Round your results to two decimal places. For example, if your result is 15.576, your answer will be "15.58"; if your result is 24.642, your answer will be "24.64"; if your result is 18.995, your answer will be "19".

	United States	China	Greece
Standard of living in 2007 (in 2005 US dollars)

3) Calculate the average annual growth rate of the standard of living between 2000 and 2007 for each of these three countries. answers in figures only, in the boxes of the table provided for this purpose.

Caution Round your results to two decimal places. For example, if your result is 15.576, your answer will be "15.58"; if your result is 24.642, your answer will be "24.64"; if your result is 18.995, your answer will be "19".

	United States	China	Greece
Average annual growth rate of the standard of living between 2000 and 2007 (in percentage)

4) Assuming that the rates of population and economic growth will remain the same in the future as those of the period 2000 to 2007, estimate the standard of living that each of these countries would have in 2025. Do not use an approximate formula. answers in figures only, in the boxes of the table provided for this purpose.

	United States	China	Greece
Standard of living in 2025 (in 2005 US dollars)

5) Based on the results you have obtained and referring to the explanatory model of economic growth seen in this course, explain, by detailing each step of the theoretical reasoning, why China is catching up with the United States. 10 lines maximum.

6) Explain how the United States that is near its steady state can raise its standard of living beyond that steady state

7) Based on the results you have obtained and referring to the theory seen in this course, list the two theoretical elements that allow China to catch up with the United States

8) If we were to consider all the countries of the world, would this catch-up phenomenon be observed?

9) With the crisis of 2008-2011, the Greek government undertook to privatize some of the companies it owns. All things being equal, is this a policy likely to encourage growth in living standards? Explain why in no more than 3 lines.