NO.PZ2024092001000019
问题如下:
An economist gathers the following historical information on select economic variables:
Based only on this
information, which country is most likely to forecast the
highest potential sustainable rate of economic growth?
选项:
A.Country 1 B.Country 2C.Country 3
解释:
A Incorrect
because Country 3 is most likely to forecast the highest potential sustainable
GDP growth rate. Country 1 has a higher share of the population over 65 than
does Country 3.
B Incorrect because Country
3 is most likely to forecast the highest potential sustainable GDP growth rate.
Country 2 has a higher share of the population over 65 than does Country
3.
C Correct
because Country 3 is to forecast the highest potential sustainable GDP growth
rate. Demographic factors (i.e., the number of workers available to enter the
workforce) can positively or negatively contribute to a country’s sustainable
rate of economic growth.
Country 3 (compared to
Country 1 and Country 2) has the highest share of the population under the age
of 16 and the lowest share of the population over the age of 65. Over the next
decade, Country 3 will receive a demographic benefit because of the high
percentage of young people entering the workforce. All else being equal, this
implies higher growth of the labor force and hence higher growth of potential
GDP.
From an historical point
of view, the population growth rates of Country 1 and 2 (mainly driven by net
migration) were slightly above the population growth rates of Country 3.
However, a high pace of immigration for Country 1 and 2 is not sustainable and
is likely to slow, which will result in slower growth in both the population
and the labor force.
In sum, the lack of (potential)
population growth and a rapidly aging population in Country 1 and 2 will limit
their potential rate of growth. Potential GDP growth in Country 3 should
receive a boost from its favorable population trends.
