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Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354 Exercise 2
Below are past GDP and growth data for the United States and four other countries:
a. For both years, calculate each country's per capita GDP as a percentage of U.S. per capita GDP. Which countries appeared to be catching up to the United States, and which were lagging behind?
b. If all these countries had continued to grow (from 1990 onward) at the average growth rates given, in what year would France have caught up to the United States? In what years (respectively) would India and Kenya have caught up to the United States?
a. For both years, calculate each country's per capita GDP as a percentage of U.S. per capita GDP. Which countries appeared to be catching up to the United States, and which were lagging behind?
b. If all these countries had continued to grow (from 1990 onward) at the average growth rates given, in what year would France have caught up to the United States? In what years (respectively) would India and Kenya have caught up to the United States?
Explanation
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a. The table below gives the GDP data of...
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
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