Question

Country A and Country B start with the same GDP per capita of $50,000. Country A's GDP per capita grows at a constant rate of 2.8% and Country B's GDP per capita grows at a constant rate of 1.4%. Use the rule of 70 to compute the difference in GDP per capita for these two countries after 100 years, in thousands of dollars.

Name: country a and country b start with the same gdp per capita of 50000 country as gdp per capita grows at a constant rate of 28 and country bs gdp per capita grows at a constant rate of 14 use 28852
Uploaded: 2022-10-12T21:33:19-08:00
Duration: 3 min 1 s
Channel: Andrew Davis
Description: country a and country b start with the same gdp per capita of 50000 country as gdp per capita grows at a constant rate of 28 and country bs gdp per capita grows at a constant rate of 14 use 28852

          Country A and Country B start with the same GDP per capita of $50,000. Country A's GDP per capita grows at a constant rate of 2.8% and Country B's GDP per capita grows at a constant rate of 1.4%. Use the rule of 70 to compute the difference in GDP per capita for these two countries after 100 years, in thousands of dollars.

Added by Emilia S.

Principles of Economics

Gregory Mankiw 8th Edition

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Solved by Expert Andrew Davis

10/12/2022

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Country A and Country B start with the same GDP per capita of $50,000. Country A's GDP per capita grows at a constant rate of 2.8% and Country B's GDP per capita grows at a constant rate of 1.4%. Use the rule of 70 to compute the difference in GDP per capita for these two countries after 100 years, in thousands of dollars.