If the rate of growth of output is 8% and the rate of growth of population is 2%
ID: 1094713 • Letter: I
Question
If the rate of growth of output is 8% and the rate of growth of population is 2%, what is the rate of growth of output per capita?
Suppose real GDPs in Hauck and Meran are identical at $10 trillion in 2000. Suppose Hauck's economic growth rate is 2% and Meran's is 4% and the rates remain constant over time. Calculate the percentage difference in their levels of potential output in 2036.
Economic growth is an exponential process. What does this mean?
If output per capita doubles in 30 years and the population doubles in 60 years, what is the growth rate of output?
If population increases at an average rate of 1% per year and output increases at an average rate of 5% per year, then per capita real GDP will double in
2% If the rate of growth of output is 8% and the rate of growth of population is 2%, what is the rate of growth of output per capita? In Panel (c), the position of the long-run aggregate supply curve is determined by Assume that the economy is initially in long-run equilibrium. What happens in the long-run if the capital stock in this economy increases over time? Suppose real GDPs in Hauck and Meran are identical at $10 trillion in 2000. Suppose Hauck's economic growth rate is 2% and Meran's is 4% and the rates remain constant over time. Calculate the percentage difference in their levels of potential output in 2036. Economic growth is an exponential process. What does this mean? Assume that a nation is operating on production possibilities curve CD. Economic growth is best illustrated by aExplanation / Answer
1) 8 - 2 = 6%
2) the economy's potential output and its aggregate production function.
3) The nation's capacity to produce will increase as represented by a rightward shift of the long-run aggregate supply curve
4) Meran's potential output will be 100% higher than that of Hauck's
5) It means that small differences in sustained growth rates have significant effects on a nation's real income over long periods of time.
6) shift from curve CD to curve EF.
7) 1.2% per year
8) 18 years.