Use the growth rate of 0.7%to estimate the population, in millions, of a growing country in 2098. Start from the 2000 population of 37 million. Use the approximate doubling time formula. Round to one decimal place. A. 75.1 million B. 86.5 million C. 97.6 million D. 73.0 million

Use the growth rate of 0.7%to estimate the population, in millions, of a growing country in 2098. Start from the 2000 population of 37 million. Use the approximate doubling time formula. Round to one decimal place. A. 75.1 million B. 86.5 million C. 97.6 million D. 73.0 million

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 3E

See similar textbooks

Related questions

Q: The table shows real GDP per capita (RGDPPC) for the fictitious country of Amerucana for a…

A: GDP or the gross domestic product of a country refers to the value of all the final goods and…

Q: Fill in the blanks in the table below. Nominal Population growth 3% 0% Country Inflation Real GDP…

A: As per the fisher's equation, Real GDP growth rate = Nominal GDP growth rate - Inflation rate r = n…

Q: Economic growth and Production Function Practice 1) The following values relate to the countries…

A: Answer-

Q: Given the table below, calculate the population growth (number of individuals) in this country for…

A: Population growth=Births-Deaths+Immigration-Emigration

Q: Discuss three (3) reasons for believing that population growth is not a problem.

A: Discuss three (3) reasons for believing that population growth is not a problem. Answer: High…

Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…

A: Productivity determines how efficiently resources are employed within an economy. Productivity shows…

Q: The table shows real GDP per capita (RGDPPC) for the fictitious country of Amerucana for a…

A: The growth rate of RGDPPC from 2011 to 2012 can be calculated as follows.

Q: TRUE OR FALSE: Population growth in high-income countries is higher than in low-income countries.

A: Concepts: A higher income country is a natiom with higher per capita income. It implies a higher…

Q: Sco's real GDP was 14,461 billion pesos in 2016 and 14,702 billion pesos in 2017 ico's population…

A: Solution: The values provided in the question are; Mexico's real GDP in 2016 is 14,461 billion.…

Q: Suppose that a country's annual growth rates were as follows over a 10-year period. Year Growth Rate…

A: The growth rate of a worth gauges its change starting with one period and then onto the next…

Q: Fill in the blank Italy is a relatively rich country with per-capita GDP of $28,000. India is a…

A: Given:

Q: Italy is a relatively rich country with per-capita GDP of $28,000. India is a relatively poor with…

A: Italy is relatively rich country. India must double its per capita GDP to equate with Italy’s Per…

Q: The rate of increase of real income per capita in a country has been calculated as 4000 / (t + 1)…

A: Real per capita income = 5,000 Growth rate = 4000 / (t+1) log2 Growth arte = 4000 / 8 log 2 Growth…

Q: What are the 20 economic growth indicators

A: Growth indicators are statistical findings that are used to judge the developmental changes of a…

Q: The data in the table below are for the country of Eturia. 2015 2016 2017 Nominal GDP ($billions)…

A: It measures the total value of all the finished goods & services produced by a nation in an…

Q: Assume real per capita GDP in West Swimsuit is $8,000 while in South Darlinia it is $2,000. The…

Q: In 2004, the average productivity of a worker from Canada was $12. Suppose that Canada has a growth…

A: As per the given information, the average productivity of a worker from Canada is $12 and the growth…

Q: Identify the factors which are the drivers behind a countries rate of growth. Describe the relevance…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: The horizontal axis of the figure below shows log of real personal income per person in 1880 for 47…

A: Solution- Given in the question -Figure contains the log of real person income in 1880 for 47 us…

Q: 2015 US Dollar GDP per capita (constant 2015 USD) 1960 1970 1980 2000 1990 Time(Year) Australia…

A: GDP per capita is a per capita income which is the ratio of country's gross domestic income and…

Q: 5. Over the next year annual rate of 2.0%. In Sloland, however, growth is expected to be somewhat…

A: The real per capita income today is $20000 in both the countries, Groland and Sloland. The expected…

Q: Answer if TRUE OR FALSE • Population growth rate has a major effect/impact on the economy of the…

A: In a country, population refers to the number of people living in the country and earning their…

Q: Define the term zero population growth ?

A: Zero population growth (ZPG) is the absence of population growth in which equal birth and death…

Q: Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year…

A: Rule of 70: - it gives the number of years in which an amount of money gets doubled at a particular…

Q: Malaysia’s real GDP was $560 billion in 2010 and $570 billion in 2011. Malaysia’s population was…

A: i. Economic growth rate = {(GDP at present value -GDP at initial value)/ GDP at initial value}* 100…

Q: What are the 15 economic growth indicators

A: Economic growth refers to the situation where there is an increase in the amount of goods and…

Q: Calculate the average annual growth rate using the information in the table below. Round to two…

A: The average annual growth rate shows the average rise or fall in any concerned value over the given…

Q: For each growth rate below, () use the rule of 70 to calculate how long it will take incomes to…

A: Exponential growth is a process that increases quantity over time. It occurs when the instantaneous…

Q: 1. Assume that "A" represents your father's birth year. (Note: “A” is used only to individualize the…

A: The GDP per capita is calculated by dividing the country’s inflation adjusted gross domestic product…

Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…

A: GDP per workers refers that how much per worker gives their share in GDP growth it is also known as…

Q: Japan’s real GDP was 525 trillion yen in 2009 and 535 trillion yen in 2010. Japan’s population was…

A: A) Economic Growth Rate = (Real GDP2010 - Real GDP2009 )/Real GDP2009 *100 = (535 - 525)/525 * 100 =…

Q: With three economies, each of which has a GDP per capita of $100. Trend growth in these economies is…

A: GDP per capita is measured as the ratio of total gdp and population . it shows how a person earn…

Q: Reference equation: Real GDP per capita growth rate Nominal GDP growth rate - Inflation rate -…

A: To calculate Nominal GDP we have to multiply current year prices with current year quantities of…

Q: Per capita income (or output) is the general measure used to compare the standard of living between…

A: If the country's population growth is higher than its economic growth, the per capita income will…

Q: At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over…

A: Using rule of 70, Doubling period = 70 / annual growth rate = 70 / 2 = 35 years

Q: Average Growth Rate (2000-2015) of Per Capita GDP Population GDP High-income countries United States…

A: Per capita GDP is expressed as the ratio GDP of a country and total population. It is shown as…

Q: If a country has a per capita GDP of $4,200 and it grows at a 5% annual rate. How long will it take,…

A: The economies around the world tend to focus on their economic growth, and development. The nations…

Q: Discuss five (5) negative consequences of population growth

A: Population growth: - Population growth means an increase in the number of persons in a country.

Q: All values are 2005 dollars. Part a) Calculate the growth of GDP/capita in each column. Part b)…

A: There are two forms of measures of GDP: nominal GDP and real GDP. Nominal GDP ascertains the value…

Q: ssume real per capita GDP in West Swimsuit is $8,000 while in South Darlinia it is $2,000. The…

Q: How many years will Colombia grow with a GDP of $323 billion dollars at a growth rate of 4%? 7)…

A: The correct answer is given in the second step.

Q: Australia's real GDP was $A1,730 in 2017 and $A1,782 in 2018. Australia's population was 24.6…

A: Given that, Australia real GDP was $A1730 in 2017 and $A1782 in 2018. Australia's population was…

Q: United Hong Kong Statement Canada Guatemala Korea Niger Kingdom This economy had the highest level…

A: From the given data, the country Hong Kong has the highest level of GDP in 2010, $44,070. The…

Question

75.1

million

86.5

million

97.6

million

73.0

million

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Calculate the average annual growth rate using the information in the table below. Round to two decimal places. Year Growth rate 2017 3.2% 2018 2.7% 2019 0.5% 2020 1.8%
At an annual growth rate of 2% it will take approximately years for a country's GDP to double. Over the next 70 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 70 years the value of GDP will be $ million. In 70 years the value of GDP will be times larger than it is today.
At an annual growth rate of 3.5% it will take approximately years for a country's GDP to double. Over the next 60 years, how many times will GDP double, assuming the growth rate does not change? If GDP starts at a value of $10 million, then in 60 years the value of GDP will be $ million. In 60 years the value of GDP will be times larger than it is today. ASUS
If an economy annual real GDP growth rate reduces from 8.2 percentage, its real GDP doubling time will.......... A) reduce by 3.53 year B) increase by 8.4 year C) reduce by 9.3 year D) increase by 18.5 year
suppose for a country the nominal GDP growth rate is 6 percent,CPI increassed from 100 to 104,and the population growth rate is 1.2 %.what is the real GDP per capita growth rate a- 2 percent b 0.8 percent c-11.2 percent d-3.2 percent
In 2017, the population in the US was estimated at 325.1 million. The population in 2018 was estimated to be 326.8 million. Assuming that the population growth is compounding annually at a constant growth rate, calculate the growth rate from year 1 to year 2. Source: United States Census Bureau 0.45 % 5.2 % 4.5 % 0.52%
Assuming UAE’s 2021 economic growth is projected to be 3.5%. How long will it take to double the size of that economy? Show your calculations.
Spain's current real GDP (YO) is €326 billion, and grows at a constant rate of 1.1%. Portugal's current real GDP is smaller (€55 billion), but they are experiencing a constant 4.8% growth rate. Part a) Calculate the real GDP for both countries 30 years, 50 years and 70 years from now. Allow the calculator to carry decimals in your intermediate calculations, but round GDP to the nearest billion Euro. Use these rounded values throughout the rest of the problem. Part b) Calculate the percentage difference in real GDP between the two countries for each 20-year interval. Report your answer in percentage form, rounded to the nearest integer. Part c) Suppose Portugal's goal is to catch up to Spain's GDP in 25 years. What growth rate must they sustain each year if they are to accomplish their goal? Express your answer as a percentage, rounded to one decimal place.
Suppose a country has a real GDP per capita of $69,000 and grows at a constant rate for the next 49 years. How much larger (in percentage terms) is this country if its growth rate is 4.13% instead of 3.05% after 49 years of growth? Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
It is observed that in a country in a given period of 20 years the average GDP growth rate has been 4%. However, it is observed that in this period the average GDP growth rate is 5% in the first 5 years and 3% in the last 5 years. How this difference in the average growth rates might be explained?
In 2017, Country A had a GDP per capita of $8,500 and a population of 68.6 million people. In 2018, total GDP increased by 6.8%, and population growth was 0.9%. What was the GDP per capita in 2018? If necessary, round any intermediate calculations and your final answer to two decimal places.
The GDP of South Africa in 1950 was 77,836.88 million dollars. In 2019 it was 748,861 million dollars. What has been the annualized growth rate of GDP for South Africa during the period 1950 to 2019? Use growth compounding to calculate the number and write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).