Chapter 6 Macro.docx - 1 Do all poor countries grow fast...

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1. Do all poor countries grow fast? When comparing the GDP real growth rate to GDP per capita, there wasn’t really an exact trend between the two. Ethiopia had one of the highest GDP real growth rates at 10.90%, but one of the lowest GDP per capita at $2,200. Isle of Man had a -8.60% GDP real growth rate, but GDP per capita was $84,600. If GDP real growth rate grows and the population also grows, the GDP per capita will not see substantial growth. We cannot say that all poor countries grow fast, because it depends on the output growing faster than the population of that country. I also would not assume that countries with lower levels of GDP per capita will automatically be able to catch up with living standards in rich countries, because there is no guarantee that these countries will have modern economic growth. 2. Is real GDP per person a sufficient measure of well-being? Does the country with the highest GDP per person have the lowest infant mortality or the highest life expectancy? No, the United States has a higher GDP per capita, but France has
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  • Fall '16
  • Brandli
  • Demography, gross domestic product, Life expectancy

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