The accompanying table shows data from the Penn World Table, Version 6.2, for real GDP per capita in 2000 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1970, 1980, 1990, and 2000.
2. The accompanying table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the Penn World Table, Version 6.2, for the past few decades.
3. The accompanying table provides approximate statistics on per capita income levels and growth rates for regions defined by income levels. According to the Rule of 70, the high-
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The accompanying table shows data from the Penn World Table, Version 6.2, for real GDP per capita in 2000 U.S. dollars for Argentina, Ghana, South Korea, and the United States for 1960, 1970, 1980, 1990, and 2000.
2. The accompanying table shows the average annual growth rate in real GDP per capita for Argentina, Ghana, and South Korea using data from the Penn World Table, Version 6.2, for the past few decades.
3. The accompanying table provides approximate statistics on per capita income levels and growth rates for regions defined by income levels. According to the Rule of 70, the high-income countries are projected to double their per capita GDP in approximately 37 years, in 2042. Throughout this question, assume constant growth rates for each of the regions that are fixed at their average value between 2000 and 2005.
a. Complete the table by expressing each year's real GDP per capita as a percentage of its 1960 and 2000 levels. b. How does the growth in living standards from 1960 to 2000 compare across these four nations?
What might account for these differences? 1960 real GDP per capita 2000 real GDP per capita Real GDP per capita (2000 dollars) 1960 $7,838 ? ? $412 ? ? $1,458 ? ? $12,892 ? ? 1970 9,821 ? ? 1,052 ? ? 2,552 ? ? 17,321 ? ? 1980 10,921 ? ? 1,142 ? ? 4,497 ? ? 21,606 ? ? 1990 8,195 ? ? 1,153 ? ? 9,593 ? ? 27,097 ? ? 2000 11,332 ? ? 1,392 ? ? 15,702 ? ? 34,365 ?