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Suppose Country a Has a Per Capita Income of $1000

Question 162

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Suppose country A has a per capita income of $1000 while country B has a per capita income of $2000. If country A's GDP grows at 7 percent per year, while country B's GDP grows at 3.5 percent per year, how long will it take for country A's income per capita equal country B's?

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20 years. Country A's income per capita ...

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