On the following scatter plots, the 1960 real per capita GDP is on the x-axis and the y-axis represents the average economic growth rate between 1960 and 2017. Which one shows the strongest evidence in favour of convergence? O 2.5 1960-2017 growth (percent) 2.0 1.5 1960-2017 growth (percent) 1.0 Convergence 10 1960 GDP (constant dollars per person) Convergence 15 10 15 1960 GDP (constant dollars per person) 20 20
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- Year 1960 1980 Argentinal 2018 $5,643 Percentage of Real GDP per 1960 2018 capita real real (2010 GDP GDP dollars) per per capita capita 7,908 ? 2000 8,224 ? The accompanying table shows data from the World Bank, World Development Indicators, for real GDP per capita in 2010 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1980, 2000, and 2018. 10,044 ? ? ? ? C Ghana Real GDP per 1960 capita real (2010 GDP dollars) per Percentage of 881 $1,056 ? 952 capita ? ? 1,807 ? 2018 real GDP per capita ? ? ? 2. South Korea Real GDP per capita (2010 dollars) $944 Percentage of 15,105 1960 real GDP per capita ? 3,700 ? ? 26,762 ? 2018 real GDP per capita ? ? ? ?What has been the average annual growth rate of U.S. real GDP per person over the 120 years from 1900 to 2020? In which decade, beginning with the 1960s, was the growth of potential GDP per person greatest and slowest? Over the 120 years from 1900 to 2020, the average annual growth rate of U.S. real GDP per person is ____ percentSuppose the value of GDP per capita in years 1970, 1990 and 2015 is as follows Y1970 =18000,y1990 = 30000, Y2015 = 55000, Which period saw the largest average growth rate of GDP per capita? а. The answer depends on whether we use the exact or logarithmic formula. O b. 1970-2015 С. 1990-2015 d. 1970-1990
- What has been the average annual growth rate of U.S. real GDP per person over the 120 years from 1900 to 2020? In which decade, beginning with the 1960s, was the growth of potential GDP per person greatest and slowest? Over the 120 years from 1900 to 2020, the average annual growth rate of U.S. real GDP per person is _____ %In 1960 GDP per capita in the Republic of Korea (constant 2015 US$) was $1027. In 2021 it was $32731. Calculate the growth rate of real GDP per capita in the Republic of Korea over this period. Now suppose that the Republic of Korea grows at the same rate for the 70 years following 2021. What will the Republic of Korea real GDP per capitae in the year 2091? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The nominal U.S. GDP per capita was about $23,954 in 1990 and $48,375 in 2010. The GDP deflator of 2010 against 1990 was about 1.5159. What is the average annual growth rate of real GDP per capita during 1990-2010 approximately? O 1.44% O 2.33% O 2.02% O 1.98%
- Last year real GDP in the imaginary nation of Olympus was 445.0 billion and the population was 2.2 million. The year before, real GDP was 390.0 billion and the population was 2.1 million. What was the growth rate of real GDP per person during the year? 14.1 percent O 0.09 percent O 1.09 percent 8.9 percentAssume real per capita GDP in West Swimsuit is $8,000 while in South Darlinia it is $2,000. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%. How many years will it take for South Darlinia to catch up to the real per capita GDP of West Swimsuit? What will the income of the two countries be when it is equal? type answer only. Do it correctly. Multiple votes will given accordingly.The “graying of America” will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 56 years following 2016 the share of the population that is working returns to its 1960 level, while average labor productivity increases at the same rate as it did during 1960–2016. Under this scenario, what would be the net change in real GDP per person between 2016 and 2072? Year Average labor productivity Share of population employed 1960 47,263 36.4% 2016 110,384 46.8% Instructions: Enter your response as whole numbers for dollar values and rounded to one decimal place for percentages.Real GDP per person in 2016: $51,660 (need help) Real GDP per person in 2072: $ (need help) Net change in real GDP per person between 2016 and 2072: $____________ , which is an increase of___________ % from 2016.
- The “graying of America” will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 56 years following 2016 the share of the population that is working returns to its 1960 level, while average labor productivity increases at the same rate as it did during 1960–2016. Under this scenario, what would be the net change in real GDP per person between 2016 and 2072? Year Average labor productivity Share of population employed 1960 47,263 36.4% 2016 110,384 46.8% Instructions: Enter your response as whole numbers for dollar values and rounded to one decimal place for percentages.(need help)Real GDP per person in 2016: $ (need help) Real GDP per person in 2072: $ (need help) Net change in real GDP per person between 2016 and 2072: $____________ , which is an increase of___________ % from 2016.Growth rates of per capita GDP: Compute the average annual growth rate ofper capita GDP in each of the cases below. Te levels are provided for 1980and 2014, measured in constant 2011 dollars.11Suppose that the GDP of California increases by 8.0% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 17 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year