Question

1. What is the approximate growth rate of real GDP per person in Canada? Name a country that has had faster growth and a country that has had slower growth. /5 I don't understand how you calculate this can someone explain this in steps thank you
2. this is my other question :
3. What is the opportunity cost of investing in capital? Do you think a country can “overinvest” in capital? What is the opportunity cost of investing in human capital? Do you think a country can “overinvest” in human capital? Explain. /5
4. There is no data needed this is the exact question no graph just the questions...

Answer 1

the approximate growth rate of real GDP per person in Canada is 0.2%

the approximate growth rate of real GDP per person in India [Fastest] is 4%

the approximate growth rate of real GDP per person in argentina[slower] is -3.1%.

{*Note: these are the data of 2019}

Next question :

The expense of next best option is known as Opportunity cost.See on the off chance that we have two options accessible for instance : Either we can buy a compensation a lease for an office in a structure or state puchase the workplace in the building.If we bought the workplace and for this bought office the lease that we don't pay is Opportunity cost for US.It can be a proportion of all that offered up to seek after another option. The open door cost of putting resources into physical capital comprises of all that we can't do because of that speculation.

Think about a huge structure to act as an illustration of physical capital. In the event that we manufacture the enormous structure, we can't utilize the land for cultivating or some other reason. That is important for the open door cost. We likewise can't utilize the solid in the structure to line a pool in my terrace. That is additionally important for the open door cost. We can't utilize the work used to develop the structure to amass vehicles. That is essential for the open door cost. We separate each asset utilized and understand that we can't utilize that asset for something different. That is opportunity cost.

We could apply a comparative rationale to putting resources into human capital. The most evident asset for this is time. On the off chance that we consider instruction framework as an interest in human capital, we can likewise observe that physical capital is frequently needed to put resources into human capital, so we could include those expenses, as well.

From an individual perspective, we each put our own time in building our own human capital. Yet, we ought to presumably consider the wide range of various costs that add to our own human capital, as well, regardless of whether we don't, independently, bear each one of those open door costs ourselves.

Presently, about over-venture: consider it a money saving advantage investigation. In this way, obviously it is conceivable to over-contribute, if the advantages we procure from the venture neglect to arrive at the degree of our chance costs.All variables of creation face declining peripheral efficiency. In the event that we include physical capital in an economy, we for the most part get more creation. In any case, we get more creation at a declining negligible rate. As it were, making the primary plant includes a ton of efficiency, however making the millionth manufacturing plant would not include as much productivity.Human capital over-venture is somewhat harder to see - in light of the fact that I generally look to find out additional. Nonetheless, I played soccer in secondary school and school, and this gives a model. Athletic ability is a type of human capital, the capacity to deliver something. For my situation, I'm roughly 5'9" tall and have rather little hands. I compensate for these debilitations by being not especially brisk or light-footed, either. You may ask why I tried playing sports by any means, significantly less attempting to play goalkeeper. Indeed, I found that with a ton of speculation, I could be unremarkable! In the end, I needed to confront the way that I was over-putting resources into that specific part of human capital. I could never play at a sufficiently high level to get by, for instance.

I contributed all the more vigorously, inevitably, in applied arithmetic and financial aspects preparing, an altogether different type of human capital. The advantages to me were clearly higher. Yet, might I be able to over-contribute? Truly, in light of the fact that I esteem relaxation time, as well. In the end, I compromise more relaxation time for less pay, and you can see that it is conceivable to over-put resources into human capital, since we may esteem the advantages not exactly the open door costs. So, yes we could over invest too for the sake of leisure time.

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