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- Using the data in Table 32.3, rank the seven regions of the world according to GDP and then according to GDP per capita.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?Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?
- If 150 million workers produced Americas GDPin 2015, using the bar graph, how much output did the average worker produce?Sort the countries in GDPlist from largest to smallest GDP. What are the top tencountries according to GDP?1960 South Korea Mexico 2012 South Korea Mexico Population, total (in millions) 25 38.7 50 120.8 e GDP (in billions of constant 2005 US$) 27.7 127.6 1165.3 1031.1 Source: World Development Indicators. Calculate per capita GDP for each country and year. Don't use commas or dollar signs, and round to the nearest dollar. • South Korea, 1960: 1108 • Mexico, 1960: type your answer... • South Korea: 2012: 23306 • Mexico, 2012: type your answer... • Did the standard of living rise in both countries? (type either yes or no): type your answer... • Which country saw the greater increase in living standards? type your answer... According to the PPF model, why might this country have had a greater increase in living standards? (Type the letter that corresponds to the best answer.) a. This country created more capital. b. This country's population increased more. c. This country adopted more advanced tecnhology. d. All of the above are consistent with the PPF model and the data. e. (a) and (c) only…
- Consider the table of GDP and population for several imaginary countries. Countrv Wrigleyville Longhornland Dinkvtown GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars 183.0 115 175.00 559.0 2965 1.700 Using this information, please answer the questions. If there is not enough information to answer a question, please enter -11 A. What is the GDP per capita of Longhornland in Ủ.S. dollars? Express your answer rounded to one decimal place. B. What is the GDP of Dinkytown in millions of Ủ.Š. dollars? Express your answer rounded to one decimal place.What is GDP per capita and why is it useful in measuring differences in living standards between different countries?S eBook Print eferences Mc Suppose there are two countries Alpha and Beta with the the following values Population 327 million 1,393 million Alpha Beta GDP $20,494 billion $13,608 billion Labor Force 159 million 756 million < Prev Calculate the labor force productivity for Alpha and Beta. Instructions: Enter your answers as whole numbers. What would have to be the GDP in Beta for this country to have the same labor productivity as Alpha? $billion Labor Force Productivity 128.89 18 9 of 9 Next
- What are the top 10 GDP/capita countries in the world? Please find the latest numbers. How does Canada and the USA rank in terms of GDP/capita?Download the USA GDP data in the last 70 years from FRED. Make a table showing the average growth rates in the last 70, 60, 50, 40, 30, 20 years and using these figures interpret the course of USA potential GDP growth through time. Do you think this is a good way to assess the development of potential GDP? Why/why not? Can you drive graph?What is the current real GDP per person in South Africa? How has this changed over the past 10 years?