Please consider Table 22-2 below. Assuming constant Annual Average Growth Rate in the future, calculate the output per capita for the United States and South Korea for the year 2040
What will be an ideal response?
Since 2040 - 2000 = 2000 - 1960, then
output per capita for U.S. = 34365 * (34365 / 1544)
= 90,633
output per capita for South Korea = 15702 * (15702 / 1544)
= 159,685
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A) equals 0. B) is greater than 0 but less than 1.0. C) equals 1.0. D) is negative.
A sale of bonds by the Fed generates
A) an increase in the demand for money balances. B) a decrease in the demand for money balances. C) an increase in the demand for bonds and a rise in bond prices. D) an increase in the supply of bonds and a fall in bond prices.
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A) the value of a future amount expressed in today's dollars. B) the value of a dollar received a year from now, expressed in terms of its future value. C) the inverse of the interest rate. D) the nominal value instead of the real value of something.
Which of the following statements accurately explains the superstar phenomenon in wages?
a. Better carpenters earn more than average carpenters because people are willing to pay higher prices for higher-quality work. b. The more productive an author is, the more books she can write each year, so the more she earns. c. Talented movie stars earn more than equally talented mechanics because technology allows the delivery of the services provided by the movie stars to all interested customers. d. Athletes get paid for performing services that everyday people perform as hobbies.