22 Jul WHAT IS THE CURRENT APPROXIMATE GROWTH RATE OF PER CAPITA PRODUCT?
Oland In 2010 the country of Aland has a population of 10 million people a GDP per capita (exchan Show more In 2010 the country of Aland has a population of 10 million people a GDP per capita (exchange rate) of $38000 and a GDP per capita at PPP of $34000; 2% of its employed population is engaged in agriculture and 78% in services. In terms of product a relatively high proportion of services are accounted for by the banking financial and investment subsectors. The country processes a significant amount of raw materials into high value manufactured goods. Its current rate of economic growth is 4% per year (annualized over the past decade). Its rate of population growth is 0.5% per year. It has a Gini index of 25. As a relatively small economy it exports and imports many industrial products and services but also exports select agricultural commodities. The country of Oland has a population of 20 million people a GDP per capita (exchange rate) of $8000 and a GDP per capita at PPP of $10000; 40% of its population is engaged in agriculture 40% in the services. Its current rate of economic growth is 6% per year a rate that is in the last several years positively impacted by its mineral and energy resource exports. In addition to the primary products that account for most of Olands exports the country also exports some services such as call center related activity and some manufactured goods. Its rate of population growth is 2% per year and it has a Gini index of 45. 1. For Aland: (a) What percentage of the employed population works in manufacturing? (b) How equitable isthedistributionofincome? (c)What type of products ands ervices likely predominate among Alands exports? Explain. 2. How would you characterize Alands level of development (give reasons other than per capita product for your characterization)? 3. For Oland: (a) How equitable is the countrys income distribution? (b) What is the current approximate growth rate of per capita product? (c) What sort of manufactured goods is Oland most likely to be exporting? 4. How would you characterize this countrys level of development (again give several reasons for your opinion concerning this countrys development)? Show less
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