8. Study Questions and Problems #8 Indicate whether each characteristic in the following table is associated with a high or low level of economic growth and development. Characteristic Political stability Developed infrastructure High Low O O High degree of income inequality 0 O Advanced technology 0 O Low capital accumulation O
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- In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?Q4.1) Evaluate the role of government in facilitating economic growth and development. There arenumerous classic theories and models of economic growth and development thatgovernments use. Briefly evaluate these theories and models.a. Identify THREE public policies that can stimulate employment and facilitate economic growth in an economy. Use examples to clearly illustrate how EACH policy can stimulate employment and facilitate economic growth
- Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. Why have some countries reduced the gap between their incomes andthat of the United States and other countries failed to do so?Look at the hypothetical data below:Real GDP per capitaNigeria $1,000Mexico $8,000China $15,000United States $33,000Fact is, changes in income over time explains economic growth of a country. Using two sources of growth, account for the large differences in income per capita across these countries?e. Discuss three policies governments can use to promote economic growth.
- 1. How is education and health considered as joint investments for economic development? Explain the linkage with examples.The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries were able to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
- “Many believe that the main objective of government economic policy should be to increase productivity and economic growth.” Using the data above and your economic knowledge, critically evaluate thisstatement by providing THREE reasons for and THREE reasons against. Ensurethat you provide a relevant real-world example for the Barbadoseconomy to support EACH point.A. EXPLAIN BRIEFLY THE FOUR APPROACHES TO ECONOMIC DEVELOPMENT.B. WHICH OF THE DIFFERENT THEORIES OR APPROACHES THAT BEST DESCRIBETHE ECONOMIC SITUATION OF THE DEVELOPING NATIONS? EXPLAIN YOURANSWER.C. DISTINGUISH BETWEEN THE NEO-CLASSICAL, FREE-MARKET THEORY WITHDEPENDENCY THEORY?D. WHAT IS THE ROLE OF PUBLIC INVESTMENT AS A DEVELOPMENT STRATEGY?E. DISCUSS HOW THE “STAGES OF GROWTH FRAMEWORK EXPLAINS ECONOMICSTRUCTURAL CHANGE.17:58 2 l alll 45 Economics - Pa... This document consists of 2 printed pages. Each question is introduced by stimulus material. in your answer you may refer to this material and / or to other examples that you have studied. 1 Qatar is a developed country with a high standard of living. Qatar is classified by the UN as a country of very high human development because of its high HDi value. More than 80% of Qatar's population are immigrants. Net immigration has helped to meet the country's demand for labour. (a) Define net immigration. [2) (b) Explain two reasons why emigration from a country may increase. [4) (c) Analyse why a country may have a high HDI value. [6] (d) Discuss whether or not the standard of living is higher in developed countries than in developing countries. (8] 2 Japan is one of the largest and most developed economies in the world. The country is, however, facing several challenges including population problems. Japan's birth and death rates are falling, its…
