uppose the initial real per capita GDP for countries A and B is 7 thousand dollars. If the annual growth rates of countries A and B are respectively 2.6% and 4.6% , what is the the ratio GDP of country B over GDP of country A after 67 years? Round your answer to the nearest first decimal

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter8: Productivity And Growth
Section: Chapter Questions
Problem 2.4P
icon
Related questions
Question

Suppose the initial real per capita GDP for countries A and B is 7 thousand dollars. If the annual growth rates of countries A and B are respectively 2.6% and 4.6% , what is the the ratio GDP of country B over GDP of country A after 67 years? Round your answer to the nearest first decimal

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Growth Rate of GDP
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning