Chapter 13 Why Do Economies Grow?

Question
31) At a 3.5% annual supply scold it would assume 20 years restraint GDP per capita to inclose.

32) Economists who bear learned economic supply discaggravate restraintcible token of assembly.

33) Explain the two basic mechanisms that extension GDP per capita aggravate the desire tidings.

34) Suppose that undivided dominion has a GDP that is 10% of its richer neighbor, except the poorer dominion is growing at a scold of 8% per year suitableness the richer dominion is growing at a scold of 2% per year. Which dominion achieve be richer in 60 years?

35) If authentic GDP is 100 in year 1, and grows at a scold of 3% per year restraint 9 years, what achieve the GDP be in 9 years?

36) If an arrangement grows at 6% per year, how multifarious years would it assume restraint authentic GDP to inclose?

37) Why is it obscure to form accuscold and weighty comparisons of authentic GDP or GNP restraint divergent countries, and how do the World Bank and the IMF chaffer with these obscureies?

38) Explain the economic concept of assembly.

13.2 Important Deepening
1) If a solid extensions its important fund per individual suitableness trade true the number of workers populated, the solid is said to experience

A) important supply.

B) investment deepening.

C) strive energy.

D) important deepening.

2) Decreases in the fund of important achieve transfer to

A) extensions in hire and sum GDP.

B) decreases in hire and extensions in GDP.

C) extensions in hire and decreases in GDP.

D) decreases in hire and GDP.

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