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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 31
China's Economy Picks Up Speed
China's trend growth rate of real GDP per person was 2.2 percent a year before 1980 and 8.7 percent a year after 1980. In the year to August 2009, China's output increased by 11.3 percent.
Distinguish between a rise in China's economic growth rate and a temporary cyclical expansion. How long, at the current growth rate, will it take for China to double its real GDP per person?
China's trend growth rate of real GDP per person was 2.2 percent a year before 1980 and 8.7 percent a year after 1980. In the year to August 2009, China's output increased by 11.3 percent.
Distinguish between a rise in China's economic growth rate and a temporary cyclical expansion. How long, at the current growth rate, will it take for China to double its real GDP per person?
Explanation
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Macroeconomics 11th Edition by Michael Parkin
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