Real GDP per person in both Alpha and Omega equals $2,000.Over the next 100 years,real GDP per person grows at 1% per year in Alpha and at a 2% per year in Omega.After 100 years,real GDP person in Alpha is _________ smaller than real GDP per person in Omega.

Question

Quizplus · Accepted Answer

After 100 years, Alpha's GDP per person will be $5,410 (2000*(1.01^100)), and Omega's will be $14,490 (2000*(1.02^100)). The difference is $9,080.

Real GDP Per Person in Both Alpha and Omega Equals