Question
Suppose that real GDP per capita of country A double in 20 years. The annual population growth rate is 1% and the annual inflation rate
Suppose that real GDP per capita of country A double in 20 years. The annual population growth rate is 1% and the annual inflation rate is 2%.
Q1. Using the rule 70, Calulate the annual economic growth rate of country A.
Q2. Calculate the annual growth rate of nominal GDP of country A.
Q3. Country A wants to increase population growth rate, This policy is related to which factor of economic growth? Technology, institution, physical capital, human capital or natural resources.
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
Economics for Environmental Studies A Strategic Guide to Micro and Macroeconomics
Authors: Alfred Endres, Volker Radke
1st edition
364231192X, 3642311925, 9783662548264, 3662548267, 978-3642311925
