Faculty of Commerce Third grade

English Section Dr. Nanis Fekry

Economics of Development and Planning
Tutorial Two

 Answer the following questions:

1. If you knew that Singapore’s per capita income in 2018 was $93,900, and that it would be
$120,277 in 2025.
a. Calculate Singapore’s average compound growth rate.
b. How many years will it take to double its level of income?

2. If Thailand’s GDP growth rate is 5% a year, capital stock growth is 3% a year, labor force
growth is 2% a year, the share of capital in national income is 70%.
a. Calculate the total factor productivity of Thailand.
b. What is the main driver of growth in this country?

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