Assume real per capita GDP in West Swimsuit is $10,000 while in South Darlinia it is $2,500. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%.
What will the income of the two countries be when it is equal?
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Assume real per capita GDP in West Swimsuit is $10,000 while in South Darlinia it is $2,500. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%.
What will the income of the two countries be when it is equal?
$
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Assume real per capita GDP in West Swimsuit is $10,000 while in South Darlinia it is $2,500. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%.
Assume real per capita GDP in West Swimsuit is $6000 while in South Homestead it is $1500. The annual growth rate in West Swimsuit is 2.33%, while in South Homestead it is 7%. What will the income of the two countries be when it is equal?
Part 1 (1 point) Feedback See Hint Assume real per capita GDP in West Swimsuit is $4,000 while in South Darlinia it is $1,000. The annual growth rate in West Swimsuit is 2.33%, while in South Darlinia it is 7%. How many years will it take for South Darlinia to catch up to the real per capita GDP of West Swimsuit? Choose one: A about 10 years • B. about 30 years C. about 40 years D. about 120 years...
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Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate - Inflation rate - Population growth rateThis equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Reference equation: Real GDP per capita growth rate Nominal GDP per capita growth rate - Inflation rate - Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when calculating this rate. However, the simplified equation both is easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The...
Reference equation: Real GDP per capita growth rate = Nominal GDP per capita growth rate-inflation rate-Population growth rate This equation is an approximation of the exact rate of growth of GDP per capita, and so it results in some errors when caloulating this rate. However, the smplified equation is both easy to use and results in small error terms when inflation, nominal GDP growth, and population growth are low, and so it is a useful approximation. The table below lists...
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .Today the RGDP per capita in A is _______ times the value in B.Country A is growing at a rate of 3.5 % per year and Country B is growing at a rate of 7 % per year. Assume these growth rates do not change.Country A will double its RGDP per capita in _______ years...
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Suppose that real GDP per capita in the U.S. is $52,000.if the long-term growth rate of real GDP per capita is 3.0% per year, how many years for real GDP per capita to reach $104,000?
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