Question

1. Since WWII, we’ve seen a slowdown in economic growth. Discuss 3 hypotheses covered for why this is the case, i.e., what are some suggested limits to modern economic growth?

2. There are some reasons to believe that economic convergence between countries might take place, and reasons to believe that it will not. List and briefly describe the conditions under which convergence will take place and the conditions under which it will not.

3. Pretend that Fruitland is a country in the Atlantic Ocean. If real GDP per capita is 35,000 citra at the start of 2015 and is 36,323 citra at the end of 2015, what is Fruitland’s growth rate for 2015?

Answer 1