Suppose that real GDP per capita of Canada 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 Canada to double?
A) 35 years
B) 50 years
C) 2.25 years
D) 14 years
Correct Answer:
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