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book Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes cover

Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes

Edition 20ISBN: 978-0073523248
book Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes cover

Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes

Edition 20ISBN: 978-0073523248
Exercise 4
Using the data of Table 1.3, calculate the real GDP (not per capita real GDP) of both the United States and China. If both economies continue to grow at their current rates, as listed in Table 1.3, when would the Chinese economy overtake the U.S. economy in terms of GDP?
TABLE 1.3
Per Capita Real GDP and Population, Actual and Growth Rates, Population Density, Annual Growth Rate of Real GDP, and Life Expectancy in Selected Countries
Source: World Bank, World Development Indicators Online, available at https://publications.worldbank.org/commerce.
Using the data of Table 1.3, calculate the real GDP (not per capita real GDP) of both the United States and China. If both economies continue to grow at their current rates, as listed in Table 1.3, when would the Chinese economy overtake the U.S. economy in terms of GDP? TABLE 1.3  Per Capita Real GDP and Population, Actual and Growth Rates, Population Density, Annual Growth Rate of Real GDP, and Life Expectancy in Selected Countries  Source: World Bank, World Development Indicators Online, available at https://publications.worldbank.org/commerce.    * In constant (2009) U.S. dollars. * In constant (2009) U.S. dollars.
Explanation
Verified
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First, convert the real GDP per capita i...

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Economics of Social Issues 20th Edition by Ansel Sharp, Charles Register , Paul Grimes
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