Which of the following is indicated by the data on real income per person for various countries over the past 100 or so years?
A)If, in a relatively poor country, real income per person had grown by 3.5 percent per year for the last 100 years, it would be a relatively rich country today.
B)Rich countries became richer and poor countries became poorer.
C)In the United States, real income per person today is about four times as high as it was 100 years ago.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

If a relatively poor country had experienced a consistent growth rate of 3.5 percent per year over 100 years, it would indeed have become relatively rich due to the power of compound growth.

Which of the Following Is Indicated by the Data on Real