Help please HOME LTE @ * 87 %- 12:47 PM instructure-uploads.s3.amazonaws.com Onl

Question

Help please HOME LTE @ * 87 %- 12:47 PM instructure-uploads.s3.amazonaws.com Online Exercises 1. Visit https://data.worldbank.org to answer the following questions: . Fill in the table below: GDP 1990 GDP 2017 1990 2017 United States Papua New Guinea b. Based on the data above, what is U.S. GOP per capita for 1990? For 2017? c. Based on the data above, what is Papua New Guinea's GDP per capita for 1990 For 2017? d. BONUS: Does the above data provide evidence for or against the theory of convergence? Explain and show supporting work 2. Visit https://fred.stlouisfed.or g to answer the following questions a. What is the year 2017 (not seasonally adjusted] exchange rate between the U.S. Dollar and the Chinese Yuan Remninbi? b. Using your answer in (a) and the 2017 US GDP you found in (a) of the previous problem, calculate the U.S. GDP in Yuan Remninbi

Explanation / Answer

b) GDP per capita = GDP/population

c)

d) The theory of convergense states that poorer economies per capitawill tend to grow faster than richer economies.

Lets calculate growth rate of GDP per capita of two economies bteween the two year.

Growth rate of US in per capita between 1990 and 2017 = (59531.7-23954.4)/23954.4 = 148.5%

Growth rate of Papua new genuea in per capita between 1990 and 2017 = (2555.8-746.5)/746.5 = 242.3%

As you can see that the per capita income of Papua grows much more than the US's hence the theory holds true.

GDP1990 GDP2017 Population1990 Population2017 US 5979589 thousand dollar 19390604 thousand dollar 249623 325719.18 Papua New Guinea 3219730.36 thousand dollar 21088758.48thousand dollar 4313059 8251162

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.