Question 3 a.ItisfoundthattherealGDPpercapitaofdevelopingcountriesgrowsfasterthandeveloped countriesatthesameperiod. Explainthisphenomenoninthelightofdiminishingreturnstocapital. b.Inaclosedeconomy,consumptionis$80,000,taxesare$17,600,governmentpurchases are$30,000andnationalsavingamountsto$20,000.ComputethelevelofGDPandprivate saving.

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a.ItisfoundthattherealGDPpercapitaofdevelopingcountriesgrowsfasterthandeveloped countriesatthesameperiod. Explainthisphenomenoninthelightofdiminishingreturnstocapital.

b.Inaclosedeconomy,consumptionis$80,000,taxesare$17,600,governmentpurchases are$30,000andnationalsavingamountsto$20,000.ComputethelevelofGDPandprivate saving.

Posted Date: Jul 07, 2024 03:24 AM

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