Question

Using the average yearly growth rates provided in the table below, calculate the index of real GDP and population growth between 2000 and 2010 for China, Canada, and Zimbabwe. Assume that the value of this index is equal to 100 for the year 2000. Calculate the growth rates for these three countries using the compounding growth function.

Note: To calculate the growth in GDP, use the compounding growth function: p0 x (1+ r)t where p0 is the original value of 100, r is the growth rate (for example, a growth rate of 2.1% (Canadian GDP) has a decimal equivalent of r = 0.021), and t is the number
Average Growth Rate (2000-2009) of
GDP Population Per capita
GDP
High-income countries
United States 2.0 1.1 0.9
Canada 2.1 1.0 1.1
Japan 1.1 0.2 0.9
France 1.5 0.5 1.0

Low-income countries
China 10.9 0.8 10.1
India 7.9 1.6 6.3
Ethiopia 7.5 2.8 4.7
Burundi 2.7 2.0 0.7
Haiti 0.7 1.8 -1.1
West Bank/Gaza -0.9 3.8 -4.7
Zimbabwe -7.5 0.9 -8.4

Instructions: Enter your answers rounded to two decimal places.

China: GDP increased from 100 to , and population increased from 100 to .

Canada: GDP increased from 100 to , and population increased from 100 to .

Zimbabwe: GDP decreased from 100 to , and population increased from 100 to .

Answer 1

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