Hello I need help answering the following problem: 3. Country Snapshot: download

Question

Hello I need help answering the following problem:

3. Country Snapshot: download the file snapshots.pdf from web.stanford.edu/~chadj/snapshots.html and answer the following. (At the moment, the latest year in the data file is 2014. Over time, this year will advance, so plaese use the lates year available in the country snapshots file whenever the year 2014 appears in the question below.)

a) What is the ratio of per capita income in each of the following countries to that in the United States in the year 2014. Ethiopia, Mexico, India, and Japan?

b) which country had the faster average annual growth rate per capita GDP between 1960 and 2014, Botswana or china?

Explanation / Answer

a) Attached is the table:

b. China average growth rate is 4.24 in between 1960 to 2014.( if average growth rae per capita GDP is to be calculated it is 4.24/24.1=0.17)

Botswana average growth rate is : 6.7 in the same period, hence Botswana is ahead of China in terms of Average growth rate.( if average growth rae per capita GDP is to be calculated it is: 6.7/29.2=0.22)

Country name Per capita income($) USA Per capita income ($) Ratio of a country per capita to USA Per capita Ethiopia 2.9 51958.6 2.9/51958.6=0.00558(taken after multiplyling with 100 as ratio is very small) Mexico 29.9 51958.6 29.9/51958.6=0.00057 India 10.5 51958.6 10.5/51958.6=0.00020 Japan 68.5 51958.6 68.5/51858.6=0.0013

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