Below you can find the per capita real GDP of the 13 countries who have joined the European Union (EU) in 2004 (except for Turkey), and the EU average in 1999 (both in Column A). It also gives the GDP...


Below you can find the per capita real GDP of the 13 countries who have joined the European Union (EU) in 2004 (except for Turkey), and the EU average in 1999 (both in Column A). It also gives the GDP per capital growth rates in 2000 (Column B). Let us assume that countries will keep growing at the given rates until these countries reach the level of the EU average. Answer the following questions and explain your answers and show all of your working (in order to obtain partial marks).CountryReal GDPGrowth rateRatio of perYears toper capita in 1999of GDP percapita GDP todouble this(before joining EU)capita in 2000EU average in 1999Ratio(%)(A)(B)(C)(D)EU average$25,6602.71-Hungary (joined 2004)$5,2184.80.2033(Q2 b)The Czech Rep. (joined 2004)$5,1701.50.2015-Poland (joined 2004)$4,2575.70.1659-Slovenia (joined 2004)$9,9943.60.389577.8Estonia (joined 2004)$4,2595.50.166025.0Cyprus (joined 2004)$13,3892.30.5218-Malta (joined 2004)$13,0254.10.507650.0Romania (joined 2007)$2,3237.30.090515.2Bulgaria (joined 2007)$1,6914.00.065953.9Lithuania (joined 2004)$3,4204.30.133343.8Latvia (joined 2004)$3,0923.60.120577.8Slovakia (joined 2004)$3,8185.00.148830.4Turkey (pending)$6,2302.90.2428350(1 mark) Just observing the above table (doing no calculations), are there any countries that will not be able to catch up to the level of per capita income in the EU based upon the assumption we have made?



May 15, 2022
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