Exam 3: An Overview of Long-Run Economic Growth

In 2009 prices, U.S. per capita GDP was about ________ in 1870, and by 2015 it had grown to about ________.

Suppose k, l, and m grow at constant rates given by And What is the growth rate of

In the late nineteenth century, ________ was the richest country in the world, but it now lags behind the United States because of ________.

In your day-to-day life, how have you been impacted by economic growth, and how has economic growth changed your quality of life, as compared to your grandparents or great grandparents? Give specific examples.

Over the past 50 years, Brazil's population growth rate has averaged about 2.3 percent. According to the rule of 70, Brazil's population will double in about ________ years.

In 2014, which of the following had a per capita GDP higher than the United States?

In 2014, approximately ________ of the world's population lived on $7 a day or less.

The president of the World Bank has asked you to calculate the average population growth rate of Nigeria from 1960 to 2010. You know the population in 1960 was about 42 million and in 2010 was about 152 million. The average growth rate is about ________ percent.

According to historical data, the wages in ancient Greece and Rome were ________ in fifteenth-century Britain or seventeenth-century France.

Assume that both Mexico's and Argentina's average annual per capita GDP growth rates are 3 percent per year, and both countries began with an initial per capita GDP of $1,000. However, Argentina has been growing since 1940 and Mexico only since 1965. In 2015, Mexico's per capita GDP would have been about ________, while Argentina's would have been about ________.