Question
Suppose you are hired as an Economic Consultant to analyze the growth performance of two countries named Blueland and Greenica. The table provides data for
Suppose you are hired as an Economic Consultant to analyze the growth performance of two countries named Blueland and Greenica. The table provides data for the real GDP and total population of the two countries.
2014 | 2015 | |||
Blueland | Greenica | Blueland | Greenica | |
Real GDP (in billions) | 350 | 150 | 360 | 165 |
Total Population (in millions) | 130 | 51 | 135 | 53 |
According to the data on the table above, which of the following statements is true?
Group of answer choices
A, Blueland's real GDP growth in 2015 is higher than Greenica's
B, Greenica's real GDP growth in 2015 is higher than Blueland's
C, Blueland's real GDP growth in 2015 is identical to Greenica's
D, Blueland's and Greenica's real GDP growth rates in 2015 are both higher than 10%
2,In a country called Novaland, suppose the growth rate of real GDP is 4%. Suppose also that the total population is 30 million. How long will it take for the real GDP of Novaland to double?
Group of answer choices
A,175 years
B,17.5 years
C,7.5 years
D,750 years
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