Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Question
Chapter 3, Problem 5E
(a)
To determine
Derive the per capita
(b)
To determine
Derive the per capita GDP curve on ratio scale.
(c)
To determine
Derive the per capita GDP curve on ratio scale.
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Students have asked these similar questions
India’s GDP per capita increased from $310 in 1991 to $1,489 in 2012.
(i) Calculate the average annual rate of growth of the Indian economy during this period using the arithmetic average.
(ii) Calculate the geometric average annual growth rate of India during this period. Explain why the number you find in (ii) differs from the result obtained in (i).
The diagram plots GDP per worker vs. capital per worker, both across countries in 1990 (the scatter plots) and the
trajectories since 1760 for a few representative countries (the paths). Based on this information, which of the
following statements is correct?
40,000
US (1800-1990)
35,000-
Switzerland
30,000 -
(1990)
UK (1760-1990)
1953
25,000 -
Japan (1870-1990)
1973....A
20,000 -
Taiwan (1901-1990).
15,000 -
1910
10,000 -
1910
5,000 -
.1760 1800
ʻIndia (1860-1990)
0-
10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000
Capital per worker (1985 PPP $)
Select one:
а.
There is no clear evidence of technological progress in GDP per worker in the US.
b. Taiwan was more capital intensive than the UK in 1990.
O c.
The average product of capital (Y/K) has been higher in Japan than in the UK over the years shown.
d. Switzerland has been the most successful country in attaining a high GDP per worker for a given amount of
capital per worker.
GDP per worker (1985 PPP $)
(a) Does the data on Cambodia's GDP per capita in the table
correspond approximately to a linear function, an exponential
function, or neither?
Year
2010
2011
2012
2013
2014
2015
GDP/capita ($/person)
782.7 824.8
870.5
920.3 969.3 1020.9
The data approximately corresponds to
Choose one ▼
(b) Find a formula to approximate G, the GDP per capita in
dollars/person, as a function of time, t, in years since 2010.
NOTE: Round your estimated coefficients to 3 decimal places.
We have G(t) 2
(c) What is the approximate annual percent increase in per capita
GDP?
NOTE: Give your answer to 1 decimal place.
GDP is increasing at approximately
% per year.
Chapter 3 Solutions
Macroeconomics (Fourth Edition)
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