GDP per capita grew at an average rate

Assignment Help Business Economics
Reference no: EM131424631

In 1975 and 2009, China's GDP per capita grew at an average rate of 7.9% per year whereas GDP per capita in United States grew at an average rate of 1.8%. In 2009, U.S. GDP per capita was $41, 099 and Chinese GDP per capita was $7, 634. Assuming that the two countries continue to grow at these rates, in what year will China overtake the United States in terms of GDP per capita?

Reference no: EM131424631

Questions Cloud

The phrase the best of all possible worlds : According to Matchek, the phrase "the best of all possible worlds" applies to a state of equilibrium, which doesn't exist in the world as we know it. According to Matchek, one of the reasons people tend to take the role of entrepreneurs for granted i..
What do we call the shape of these contour lines : Consider the functionY=sqrtXZ where X>0 and Z>0. Draw the contour lines (in the positive quadrant) for this function for Y= 4, Y= 5, and Y= 10. What do we call the shape of these contour lines? Where does the line 20X+ 10Z= 200 intersect with the con..
What type of goods are pepsi and coke for mary : Suppose Mary enjoys Pepsi and Coke according to the function U(P,C) = 4C + 5P. What does her utility function say about her MRS of Coke for Pepsi? What do her indifference curves look like? What type of goods are Pepsi and Coke for Mary? how would he..
Government spending on bond prices in the short run : What is the effect of an increase in Government Spending on Bond Prices in the Short Run? (To improve your understanding of the IS-LM model, try to answer this question by showing the equilibrium change in the Goods Market, the Money Market, and the ..
GDP per capita grew at an average rate : In 1975 and 2009, China's GDP per capita grew at an average rate of 7.9% per year whereas GDP per capita in United States grew at an average rate of 1.8%. In 2009, U.S. GDP per capita was $41, 099 and Chinese GDP per capita was $7, 634. Assuming that..
Consider to be an effective diversity strategy : Formulate what you would consider to be an effective diversity strategy for the following sport organizations: athletic department at a traditionally all-male institution that just became coeducational.
Nominal rate would you require from the bank over next year : Assume you just deposited $1000 into a bank account. The current real interest rate is 2?%, and inflation is expected to be 7?% over the next year. What nominal rate would you require from the bank over the next? year?
The social function of the entrepreneur : According to Dale Matchek in "The Social Function of the Entrepreneur," which of the following accurately describes the type of risk an entrepreneur faces thats can never entirely be eliminated? The risk of physical and emotional harm.
Analysis you would undertake when faced with this challenge : The project you are managing is now behind schedule. Describe the analysis you would undertake when faced with this challenge. What are some of the actions you would consider to take to try to bring the project back on track?

Reviews

Write a Review

 

Business Economics Questions & Answers

  What are the practical policies that emerge out of outlook

George Kennan’s Long Telegram/Mr. X article. What is the post-war Soviet outlook? What are the sources of this outlook? What are the practical policies that emerge out of this outlook? What should the US do in light of Soviet policy/outlook?

  Explanation different from methodological individualism

What makes a social science explanation different from methodological individualism? How would social scientists explain why American men wear short hair, while women wear their hair long? How would a methodological individualist explain this?

  What are some major economic events

Choose the 10-year period of history between 1950 and today that you are going to research. What is it about this period of history that interests you? What are some major economic events that took place during this period?

  Attempt to reverse declining global sales

According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..

  Classmates economic effects of the healthcare legislation

Discuss with your classmates the economic effects of the healthcare legislation (Affordable Care Act) recently passed by Congress. You don't have to do a lot of research, but do Google "Affordable Care Act" and look at some major provisions and discu..

  Workers in different jobs

Outline any two reasons, why the marginal revenue product differs between workers in different jobs.

  Describe the major components of an effective training plan

As a training consultant explain the importance of training in these three areas. 1) legal requirements 2)diversity 3) employee personal growth. Demonstrate the importance of the topics to the organization and as an individual. describe the major com..

  Just need an explanation of what it woudl look like

Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?

  Investment services must develop an investment portfolio

CPS Investment Services must develop an investment portfolio for a new client. CPS is considering six investment plans of three different types for this client. The client is interested to invest $80,000. To minimize the risk in investment, it is the..

  Position of the demand curve

What would happen to the position of the demand curve for dental services if patients had to wait even longer for an appointment with a dentist.

  Find the number of units that must be produced to break even

The revenue function R(x) and the cost function C(x) for a particular product are given. these functions are valid only for the specified range of values. Find the number of units that must be produced to break even. R(x) = 200x - x^2; C(x) = 10x + 7..

  Assume oligopolistic competition between the two firms

There are two firms in an in an industry. Let q1 and q2 be the two firms in an industry and Q= q1 + q2 be the total output. The inverse demand in the industry if P (Q)= 45 – Q. The cost function for each firm is C(qi) = 9qi. Assume oligopolistic comp..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd