HomeAs1 - Fall 2010 - Answer Key

# HomeAs1 - Fall 2010 - Answer Key - Econ 3T03 Home...

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Econ 3T03 Fall 2010 Home Assignment #1: Answer Key 1. (10 points) Consider the world with the following 8 countries: Country Name Population size GNP in 1985 GNP in 1995 Income per capita 1985 1995 A 20,000 5,400,000 7,300,000 B 40,000 6,700,000 6,800,000 C 32,000 9,500,000 9,000,000 D 16,000 4,000,000 6,000,000 E 48,000 12,000,000 18,000,000 F 56,000 10,000,000 10,500,000 G 24,000 8,000,000 8,200,000 H 34,000 14,000,000 16,000,000 World (a) Construct the table for the income mobility of countries (The idea is similar to Figure 2.5 in textbook.). First, fill the empty cells in the table above. (a.1) Calculate per capita income in the world in 1985 and in 1995; (a.2) Calculate per capita income in each country in 1985 and in 1995; Second, fill the table below (a.3) For both years: assign index “1/2” to a country, if its per capita income is less than 1/2 of the world per capita income in a given year (we will call this country “poor”); assign index “1”, if its per capita income is between 1/2 and 3/2 of the world per capita income in a given year (we will call this country “middle-income”);

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• Fall '10
• demidova
• Economics, per capita, Per capita income, capita income

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