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psyauleiet.camaad88912/e Search Like this study set? Create a free ac Changes.mp mathxl.com Econ-201-G 12:30-1:50pm FA-2017 Stanislas Setondji 12/11/17 10:35 AM Quiz: Chapter 7 Quiz Submit Quiz This Question: 7 pts 14 of 18 This Quiz: 36 pts possible countries in the world remain desperately poor. For example, of the top five fastest-growing economies, three-Sierra Leone. Mongolia, and Niger-have real per capita GOPs that are 203rd, 154th, and 221st in the world, respectively. This seems like something of a contradiction. A country with a very low per capita GDP can have a very high growth rate because mathematically, when the Consider a $100 increase in GDP per capita. In 2012, Niger had a GDP per capita of approximately $800, and the United States had a GDP per capita of $50,700 can also have a very high growth rate. . even a smal difference in the I will result in a large growth rate. Calculate the corresponding growth rates for these two countries. Niger's growth rate is percent, and the U.S. growth rate is percent (Round your responses to two decimal places.) Sta conve Thus, started out with a lower base and had | growth rate. the Enter your answer in each of the answer boxes.Explanation / Answer
A country with a very low per capita GDP can have a very high growth rate because mathematically, when the denominator is lower, even a small difference in the numerator will result in a large growth rate.
Niger growth rate is 12.5 percent and the US growth rate is 0.2 percent. Thus Niger started out with a lower base and had a higher growth rate
Country 2012 2013 Per cent growth rate Niger 800 900 12.50% USA 50700 50800 0.20%Related Questions
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