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please help with the following macroeconomics question: 4. Let us consider the following data on real GDP per capita for $ developed countries from 1870
please help with the following macroeconomics question:
4. Let us consider the following data on real GDP per capita for $ developed countries from 1870 Lo 1940 Country 1870 1913 1950 1908 Annual growth rate 1870-1908 Australia 3.123 4.623 15,070 1.1% Canada 1.347 3.560 6.113 17.453 2.1 France 1.571 2.734 4140 14.631 1.8 Germany 1.300 2.000 3130 15.313 20 Japan 618 1.114 1.563 17.346 2.7 Sweden 1.316 2.480 14.912 1.9 United Kingdom 2.610 4.024 5.651 14.440 1.4 United States 2.247 4.854 19.638 1.7 Source: Abel and Bernanke, Macroeconomic, 2005. a) Compute the annual growth rates of real GDP per capita for each country in the period 1950-1996. b) One of the results you will find is that both Germany and Japan experienced really high growth rates after the 1950s. Use your knowledge of history and the Solow growth model to provide 3 a brief explanation for thisStep by Step Solution
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