Question
Using the Penn World table version 10.0: (https://www.rug.nl/ggdc/productivity/pwt/), download the following data for 1950 and 2019 for Canada: Expenditure-side real GDP at chained PPPs (in
Using the Penn World table version 10.0: (https://www.rug.nl/ggdc/productivity/pwt/), download the following data for 1950 and 2019 for Canada: "Expenditure-side real GDP at chained PPPs (in mil. 2017US$)" denoted by rgdpe. "Population (in millions)" denoted by pop.
a) Compute the real GDP per capita in Canada in 1950, 2010, 2019 and compute its average annual growth rates from 1950 to 2019 and during the last decade (from 2010 to 2019). Did economic growth slow-down during the last decade compared to the last 69 years?
b) Compute the average annual growth rates of the real GDP and population from 1950 to 2019 and during the last decade (from 2010 to 2019).
c) If the average annual growth rate of the Canadian population remains the same in the current decade (from 2020 to 2029) as in the previous one (from 2010 to 2019) found in b., how much does the real GDP has to grow during the current decade to be consistent with its per capita average annual growth rate from 1950 to 2019 found in a?
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