According to the table, which country will have the higher rGDP per capita in 17.5 years? Econia Macroland Nomicia Zaria rGDP per capita $5000 $8000 $12000 $15000 growth rate of rGDP per capita 10% 7% 4% 1% Nomicia because it has a higher starting GDP Nomicia because its rGDP per capita will double and Econia's will still lag behind even though it is growing at a faster rate Econia because its growth rate is higher Econia because its rGDP per capita will have time to double and then almost double again
According to the table, which country will have the higher rGDP per capita in 17.5 years? Econia Macroland Nomicia Zaria rGDP per capita $5000 $8000 $12000 $15000 growth rate of rGDP per capita 10% 7% 4% 1% Nomicia because it has a higher starting GDP Nomicia because its rGDP per capita will double and Econia's will still lag behind even though it is growing at a faster rate Econia because its growth rate is higher Econia because its rGDP per capita will have time to double and then almost double again
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter25: Production And Growth
Section: Chapter Questions
Problem 1CQQ
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According to the table, which country will have the higher rGDP per capita in 17.5 years?
Econia | Macroland | Nomicia | Zaria | |
rGDP per capita | $5000 | $8000 | $12000 | $15000 |
growth rate of rGDP per capita | 10% | 7% | 4% | 1% |
Nomicia because it has a higher starting GDP
Nomicia because its rGDP per capita will double and Econia's will still lag behind even though it is growing at a faster rate
Econia because its growth rate is higher
Econia because its rGDP per capita will have time to double and then almost double again
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