The following table reports real GDP per person for several different economies in the years 1960 and 2000. It also gives each economy's average annual growth rate over this period. For example, real GDP per persion in Senegal was $1,776 in 1960 and actually declined to $1,571 by 2000. Senegal's average annual growth rateduring this period was -0.31%, and it was the poorest economy in the table in the year 2000.
The real GDP per person figures are denominated in U.S. dollars with the base year of 1996. The following questions help you to understand the different growth experiences of the economies in the table.
Real GDP per person
economy: Singapore, Senegal, France, Austria, India, China
1960 ($):4,219, 1776, 8531, 8444, 892, 448
2000($): 29434, 1571, 25045, 27000, 2644, 4002
growth rate (%) : 4.98, -0.31, 2.73, 2.95, 2.75, 5.63
1. Which economy had the highest level of real GDP per person in the year 2000?
a. China
b. France
c. Singapore
d. Austria
2. In which economy did real GDP per person grow at the fastest rate from 1969 to 2000?
a. China
b. France
c. Singapore
d. Senegal
3. Consider the following list of four countries. Which economy began with a level of real GDP per person in 1960 that was well below that of France and grew fast enough to catch up with and surpass France's real GDP per person by 2000?
a. China
b. France
c. Singapore
d. Senegal
The following table reports real GDP per person for several different economies in the years 1960 and 2000. It also gives each economy's average annual growth rate over this period. For example, real GDP per persion in Senegal was $1,776 in 1960 and actually declined to $1,571 by 2000. Senegal's average annual growth rateduring this period was -0.31%, and it was the poorest economy in the table in the year 2000.
The real GDP per person figures are denominated in U.S. dollars with the base year of 1996. The following questions help you to understand the different growth experiences of the economies in the table.
Real GDP per person
economy: Singapore, Senegal, France, Austria, India, China
1960 ($):4,219, 1776, 8531, 8444, 892, 448
2000($): 29434, 1571, 25045, 27000, 2644, 4002
growth rate (%) : 4.98, -0.31, 2.73, 2.95, 2.75, 5.63
1. Which economy had the highest level of real GDP per person in the year 2000?
a. China
b. France
c. Singapore
d. Austria
2. In which economy did real GDP per person grow at the fastest rate from 1969 to 2000?
a. China
b. France
c. Singapore
d. Senegal
3. Consider the following list of four countries. Which economy began with a level of real GDP per person in 1960 that was well below that of France and grew fast enough to catch up with and surpass France's real GDP per person by 2000?
a. China
b. France
c. Singapore
d. Senegal
Related textbook solutions
Related questions
The following table reports real income per person for several different economies in the years 1960 and 2010.
It also gives each economy's average annual growth rate during this period. For example, real income per person in the Central African Republic was $1,010 in 1960, and it actually declined to $628 by 2010, The Central African Republic's average annual growth rate during this period was -0.95%, and it was the poorest economy in the table in the year 2010.
The real income-per-person figures are denominated in U.S. dollars with the base year of 2005.
The following exercises will help you to understand the different growth experiences of these economies.
| Economy | Real Income per Person in 1960 (Dollars) | Real Income per Person in 2010 (Dollars) | Rate (Percent) |
| Australia | 13,817 | 37,338 | 2.01 |
| Finland | 8,837 | 31,601 | 2.58 |
| Thailand | 772 | 8,467 | 4.91 |
| Ireland | 7,807 | 41,558 | 3.40 |
| Pakistan | 717 | 2,477 | 2.51 |
| Central African Republic | 1,010 | 628 | -0.95 |
Indicate which economy satisfies each of the following statements.
| Statement | Australia | Cental African Republic | Finland | Ireland | Pakistan | Thailand |
| This economy experienced the fastest rate of growth in real income per person from 1960 to 2010 | Ā | Ā | Ā | Ā | Ā | Ā |
| This economy had the highest level of real income per person in the year 2010 | Ā | Ā | Ā | Ā | Ā | Ā |
Consider the following list of four countries. Which economy began with a level of real income per person in 1960 that was below that of Finland and grew fast enough to catch up with and surpass Finland's real income per person by 2010
a. Australia
b. Central African Republic
c. Ireland
d. Pakistan
