RQch10 - 3.3 The growth rates might be lower if they were...

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Suggested answers to selected Review Questions: (Ch 10) 1.4 Growth Rates Country 2003 2004 2005 2006 Average Annual Growth Rate Australia 2.67% 2.80% 2.41% 2.63% Hungary 4.98% 4.22% 3.88% 4.36% Poland 5.26% 3.28% 6.10% 4.88% a. During 2005, Hungary experienced the highest economic growth rate of 4.22%. b. During 2006, Poland experienced the highest economic growth rate of 6.10%. c. Between 2004 and 2006, Poland experienced the highest average annual growth rate of 4.88%. 1.5 You will have earned more on your Chiba Bank CDs. Bank Value of CD at end of year (Yen) 2007 2008 2009 Andover Bank 1030000 1133000 1257630 Lowell Bank 1080000 1166400 1259712 2.6 a. shift b. movement along c. shift 2.8 Because even though they are not spending their own money, salaried managers in the United States are judged by the profitability of the company, which often depends on the adoption of new technologies.
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Unformatted text preview: 3.3 The growth rates might be lower if they were calculated for real GDP per capita (i.e. per person) instead of per hour worked because the number of hours worked per person in the United States has decreased in the years since 1900. 4.5 a. Not over the entire range, because the countries with the highest initial levels of real GDP per capita have growth rates of real GDP per capita similar to the countries with average initial levels of real GDP per capita. b. Yes, because the countries with the lower initial level of real GDP per capita have the higher growth rates of real GDP per capita. c. No, the countries have roughly the same growth rates of real GDP per capita regardless of their initial levels of real GDP per capita. 5.5 a. tends to decrease the econ growth rate b. tends to increase the econ growth rate c. tends to increase the econ growth rate...
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This note was uploaded on 04/22/2010 for the course ECONOMICS ECON1002 taught by Professor None during the Spring '10 term at Hong Kong Institute of Vocational Education.

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RQch10 - 3.3 The growth rates might be lower if they were...

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