Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita of China is $4,000, and its annual growth rate is 7%. How long will it take real GDP per capita of the United States to double?
A) 35 years
B) 50 years
C) 2.25 years
D) 14 years
Correct Answer:
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