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?

User Account

All Pages