The table below lists GDP and GDP growth rates for the countries of Cortania, Microtania, and Boxtown. Fill in the final column, which asks for the GDP in each country 13 years later. Country GDP in $ billions GDP annual growth rate (%) Cortania 10600.00 Microtania Boxtown 44000.00 48100.00 3 2 4.5 G
Q: The figure to the right shows an industry composed of a single monopolistic domestic firm.…
A: Demand refers to the quantity that a consumer wishes to buy at given price in given period of time
Q: pose that an economic downturn decreases household alth and erodes consumer confidence. Move the…
A: Since there will be a decline in household's consumer confidence because of the economic downturn…
Q: 11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 8 3.00 2.00 1.00 300 600 900 What kind of externality is…
A: A negative production externality refers to a negative impact of the production process that is…
Q: Stan Moneymaker has the opportunity to purchase a certain U.S. Treasury bond that matures in eight…
A: Discounted Value or present Value is the calculation of the future sum of money in today's dollars…
Q: Suppose an economy is in loh percent. Use your diagram to show what happens to output and the price…
A: AD-AS equilibrium:Aggregate demand refers to the total demand for commodities and services made by…
Q: The proportion of an insurance company’s premium income spent on provision of treatments is called…
A: Premium income is any money that a person or organisation receives as all or part of the premium…
Q: Required: Affiliate A sells 8,000 units to Affiliate B per year. The marginal Income tax rate for…
A: Interest rate refers to the percentage of the principal amount that a lender charges a borrower for…
Q: The equilibrium price in this market is S per notebook, and the equilibrium quantity is Price…
A: In economics, economic equilibrium is a situation in which economic forces such as supply and demand…
Q: The primary costs to be accounted for in health care projects include all of the following except:…
A: This can be described as the concept of economics that helps an individual or an organization to…
Q: What is the present worth difference between an investment of $30,000 per year for 40 years and…
A: Investment 1: $30,000 per year for 40 yearsInvestment plan 2: $30,000 per year forever Rate of…
Q: In the figure to the right, the importing country mposes a tariff that raises the domestic price…
A: A tariff refers to tax on products and services imported into a nation. The main purpose is…
Q: What quantity will Country A supply to the rest of the world at P=$17? 19. What quantity will…
A: For the country A the difference between the demand curve and the supply curve above the equilibrium…
Q: 4.9 For years, Chinese parents bought imported baby formula because of their concerns about the…
A: Supply and demand is an economic model of price determination in a market. It postulates that,…
Q: A remotely located air sampling station can be powered by solar cells or by running an electric line…
A: Given,solar cell installation cost = $7,000Annual cost of inspection, cleaning etc = $1,250Useful…
Q: Intel and Advanced Micro Devices make most of the chips that power a PC. What makes the market for…
A: Economics is the social science that studies how individuals, businesses, and societies allocate…
Q: Which is true of the two budget lines a X Line a has a higher nominal income than line b The…
A: Budget line shows all the combinations of goods which can be produced at given level of income and…
Q: One prediction about monopolistic competition as a market structure is that it has higher unit costs…
A: Monopolistic competition is the market where both market ( perfect competition and monopoly)…
Q: Only typed answer The incentive to cheat within a cartel increases with an increase in the…
A: A cartel is a group of independent businesses or producers in an industry who collude to limit…
Q: P $15 9 11 3 C 14 MC MR Q According to the graph shown, at point C the firm is earning: fewer…
A: Total revenue is the product of price and quantity. Profit is the difference between the total…
Q: 1. A consumer has preferences for two goods. Her preferences satisfy Axioms 1 through 4 as discussed…
A: preferences are a cornerstone of economic analysis, helping economists understand and predict how…
Q: What would be the impact in this market, of a price ceiling set at $13 a) A market surplus of…
A: A price ceiling is the price set by the government which is the maximum that should be charged from…
Q: What could the Federal Reserve do to help the economy reach potential real GDP in 2004? Conduct…
A: The projected potential real GDP in 2004 exceeds actual real GDP by $0.06 trillion. To calculate…
Q: 6. The interaction of individual choices Consider the following scenario: People in Iowa eat both…
A: Principles of economic interaction refer to fundamental concepts that describe how individuals,…
Q: Some laboratory equipment sells for $75,000. The manufacturer offers financing at 8% with annual…
A: An interest rate is charged on borrowing money from any financial institution, conveyed as a % of…
Q: Can you describe to me what the Interest on Reserves Balances (IORB rate) is, what it does, and how…
A: The Interest on Reserves Balances (IORB rate) is the interest rate paid by the Federal Reserve to…
Q: QUESTION 1 Given a demand curve of P = 1200-40Qd and supply of P = 200 + 10Qs and a binding price…
A: Demand curve is downward sloping because as the price increase the quantity demanded decreases in…
Q: The value of the coefficient is therefore this good has a relatively price. decrease) price to…
A: Elasticity is a measure of the responsiveness of one economic variable to a change in another…
Q: Use your diagram to show what happens to output and the price level as the economy moves from the…
A: The aggregate demand (AD) shows the total demand for goods and services in the economy. The AD…
Q: Which of the following is a benefit of long-run economic growth? O A. increased future interest…
A: Long-run economic growth refers to the sustained and continuous increase in an economy's production…
Q: Joe owns a few collectible cars from the 1950's. He has decided to go solar and needs money to…
A: Joe is selling one of his collectible cars to get the money he needs to finance his new solar…
Q: [Related to Don't Let This Happen To You!] Use the data for the country of New Finlandia in the…
A: Real GDP per capita: - it is inflation-adjusted per person output or real output per person of an…
Q: The expanded circular-flow diagram The diagram below shows an expansive circular-flow diagram for…
A: The circular flow of income model refers to the circular flow of income from households to firms and…
Q: What would be the impact in this market, of a price floor set at $22 a) A market surplus of 7…
A: A price ceiling is the price set by the government which is the maximum that should be charged from…
Q: Refer to Figure 2-16. The opportunity cost of obtaining 30 additional widgets by moving from point A…
A: The opportunity cost refers to the cost of sacrificing a good to choose another good when we have…
Q: The substitution effect of a price decrease for a good with a normal indifference curve pattern is…
A: Substitution Effect:The substitution effect describes the change in the quantity demanded of a good…
Q: Suppose Madison operates a handicraft pop-up retail shop that sells phone cases. Assume a perfectly…
A: The financial gain of a firm when the total revenue surpasses the level of the total cost incurred…
Q: Given a nominal monthly interest rate of 2.3%. What is the effective interest rate quarterly?
A: An interest rate is the percentage at which interest is charged or paid on a loan, investment, or…
Q: For a country to be on a "gold standard," it must A) use gold as fiat money. B) use gold coins as…
A: The gold standard is a monetary system in which the value of a country's currency is directly linked…
Q: 19. Answer the question on the basis of the following data confronting a firm: Marginal Cost…
A: A firm continues to increase its output as long as the additional revenue received from selling one…
Q: Use the table to answer the following questions. The marginal, or additional, gain from Eleanor's…
A: Marginal benefit is the additonal benefit that the consumer gets from consumption of an additional…
Q: Kiwidale Dairy is considering purchasing a new ice-cream maker. Two models, Smoothie and Creamy, are…
A: There are two alternatives- Smoothie and Creamy. Their information is given in the table. The…
Q: The Ministry of Misallocation has decreed that the production of widgets must be 2000 each month and…
A: In the free market, the equilibrium price and quantity is determined through the forces of demand…
Q: Determine the capitalized cost of a permanent roadside historical marker that has a first cost of…
A: The initial cost of a permanent roadside historical marker is $55,000.Maintenance cost of $1700 once…
Q: The records kept by a large department store indicate that, in the past, weekly sales have averaged…
A: The records kept by large department store indicate that, in the past, weekly sales have averaged…
Q: Suppose a young chef who recently graduated from culinary school in Cuba looks for work at local…
A: Unemployment: Unemployment is a state of being without a job and actively seeking one.Discouraged…
Q: What percentage of consumers believe consumer-generated content (CGC) is the most authentic form of…
A: The percentage of consumers who believe consumer-generated content (CGC) is the most authentic form…
Q: The individual pictured in Figure 5.2.3: O would receive a utility of 12 from a sure $6000. would…
A: Concave utility functions depict that an individual has risk-averse behavior thus avoiding risk. On…
Q: The elasticity of demand is ε = (Enter your response rounded to one decimal place and include a…
A: The elasticity of demand is calculated by taking the ratio of percentage change in quantity demanded…
Q: Refer to the graph. By producing at output level Q, this firm is in Price 0 MC ATC + MR Q₁ Q…
A: Productive efficiency refers to a situation in which a firm or economy produces goods and services…
Q: Price elasticity measures the: change in quantity per unit change in price. change in…
A: Price is an economic variable that measures the responsiveness to changes in the quantity demanded…
The table below lists
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
- There are two countries in the world: Happytimes and Treehausland. Both countries currently have a GDP per capita of 1. Use the information in the table about growth and productivity to answer the questions. Round all numerical answers to two decimal places. Country Growth rate of GDP per capita Happytimes 0.086 Treehausland 0.031 What is GDP per capita in Happytimes in 21 years21 years ? Happytimes's GDP: $ What is GDP per capita in Treehausland in 21 years21 years ? Treehausland's GDP: $ In 21 years21 years , Happytimes grows how many times more than Treehausland? Happytimes's growth: times Treehausland's growthThe table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands. Real GDP and Population over Time Population (thousands of people) 224 228 237 Year 1 2 Real GDP (millions of dollars) $5,847 6,666 7,541 Instructions: Round your answers to one decimal place. a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita) between year 1 and year 2. Real GDP: Population: Standard of living: b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2 and year 3. Real GDP: % % Real GDP per Capita (dollars) $26,103 29,237 31,819 % % Population: Standard of living: c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between year 2 and year 3. %Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth=2.6 percent; real output growth = -1.4 percent. Real growth per capita:% b. Estonia: population growth=-0.3 percent; real output growth 4.3 percent. Real growth per capita: % c. India: population growth = 2.1 percent; real output growth 6.2 percent. Real growth per capita: % d. United States: population growth = 0.4 percent; real output growth 2.6 percent. Real growth per capita: %
- The table provides some data on real GDP and the population of Iberia in 2019 and 2020 If the growth rates of 2020 are maintained in future years, when will real GDP per person in Iberia double? If the growth rates of 2020 are maintained in future years, real GDP per person in t Iberia will A. double by 2055 B. double after 70 years C. double by 2090 D. never double unless the population stops growing Year 2019 2020 Real GDP (billions of pesos) 180,000 185,436 Population (billions) 300 303What are the current growth rates, population size and patterns of the United States, China, and Brazil. What are the discussions on events or policies that may have affected that countries population size/growth rate. Be sure to include reputable sources, such as the United Nations or your selected country's government websites. government's response to population changes (laws, policies, social changes, etc.) Give the current population size of the world and the current projection of the population size as the 21st century progressed.Mexico's real GDP was 14,461 billion pesos in 2016 and 14,702 billion pesos in 2017 Mexico's population was 121 milion in 2016 and 122 million in 2017 Calculate a The growth rate of real GDP b. The growth rate of real GDP per person c The approximate number of years it takes for real GDP per person in Mexico to double if the 2017 growth rate of real GDP and the population growth rate are maintained The growth rate of real GDP in Mexico in 2017 was percent >> Answer to 1 decimal place The growth rate of real GDP per person in Mexico in 2017 was >>> Answer to 1 decimal place percent The approximate number of years it takes for real GDP per person in Mexico to double if the 2017 growth rate of real GDP and population growth rate are maintained is > Answer with a whole number
- Mexico's real GDP was 14,461 billion pesos in 2016 and 14,702 billion pesos in 2017 Mexico's population was 121 milion in 2016 and 122 million in 2017 Calculate a The growth rate of real GDP b. The growth rate of real GDP per person c The approximate number of years it takes for real GDP per person in Mexico to double if the 2017 growth rate of real GDP and the population growth rate are maintained The growth rate of real GDP in Mexico in 2017 was percent >> Answer to 1 decimal place The growth rate of real GDP per person in Mexico in 2017 was percent > Answer to 1 decimal place The approximate number of years it takes for real GDP per person in Mexico to double if the 2017 growth rate of real GDP and population growth rate are maintained is Answer with a whole nurmberUse the data for the country of New Finlandia in the following table to calculate the following: REAL GDP PER CAPITA (2005 PRICES) $41,603 YEAR 2010 2011 2012 42,933 42,416 2013 2014 43,311 43,246 (HINT: Remember from the previous chapter that the average annual growth rate for relatively short periods can be approximated by averaging the growth rates of those years.) a. The percentage increase in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.) b. The average annual growth rate in real GDP per capita between 2010 and 2014 is %. (Enter your response rounded to two decimal places.)The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of Highlands. Real GDP and Population over Time Population (thousands of Real GDP per Capita (dollars) Real GDP (millions of dollars) $5,595 6,329 7,245 Year people) $25,903 216 220 28,768 227 31,916 Instructions: Round your answers to 1 decimal place. a. Using the information in the table, calculate the growth rates in real GDP, population, and the standard of living (real GDP per capita) between year 1 and year 2. Real GDP: Population: Standard of living: b. Now, using the information in the table, calculate the growth rates in real GDP, population, and the standard of living between year 2 and year 3. Real GDP: Population: Standard of living: 1% c. The standard of living in the economy of Highlands between year 1 and year 2 grew (Click to select) the standard of living between year 2 and year 3. e to search
- The following figure shows that the average growth rate of real per capita GDP is negatively related to the initial level of real per-capita GDP. Average real per capita growth (5) 4.50 4.00 3.50 3.00 2.50 ||US -2.11 1.50 1.00 0.50 0.00 PHI O Dein HA 02.000 6,000 10,000 14,000 Real income per capita, 1950 Per capita growth 1950-2007 for 22 OECD countries What can we conclude from the above Figure? Because of the diminishing returns to capital accumulation, we should see tendencies for unconditional convergence between poor and rich countries. Divergence between countries is expected if we make conditions on key variables such as population growth rates and savings rates. If countries have similar features such as population growth rates and saving rates, then conditional convergence may occur The OECD countries are homogeneous Richer is the country, faster is its growth rateHomework 5.6 While both India and China have grown tremendously over the last few decades, China appears to have clearly grown more impressively. See the GDP of the two countries in 1990 India GDP of $326 billion, China GDP of $358 billion By 2015, China’s GDP grew to $10.8 trillion India’s GDP grew to $2.07 trillion2 China’s growth > 33%, whereas India’s is > 6% The World Bank suggests that 800 million people have also moved out of poverty in China. The poverty rate fell from 88% of the population in 1981 to just above 4% of the population in 2014. India, cut its poverty level from 60% to 30% of its population between 1981 and 2012. However, the population also increased, so the overall decline in poverty was from 429 million to 400 million.. The growth of China and its effects on its population is visible. The rise of a middle class has turned China into a marketer's dream as a huge 'market' for all products such as automobiles. Question: What reasons can be you attribute for…Hypothetical data is given for the following countries. Calculate real growth per capita in the following countries: Instructions: Enter your responses rounded to one decimal place. If you are entering a negative number, be sure to include a negative sign (-) in front of the number. a. Democratic Republic of Congo: population growth = 2.8 percent; real output growth=-1.6 percent. Real growth per capita: % b. Estonia: population growth-(0.6) percent; real output growth-4.5 percent. Real growth per capita:[ % c. India: population growth=1.7 percent; real output growth = 5.9 percent. Real growth per capita: [ % d. United States: population growth 0.7 percent; real output growth = 2.8 percent. Real growth per capita: [