United Hong Kong Statement Canada Guatemala Korea Niger Kingdom This economy had the highest level of real income per person in the year 2010. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010.
United Hong Kong Statement Canada Guatemala Korea Niger Kingdom This economy had the highest level of real income per person in the year 2010. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010.
Chapter16: Economic Growth
Section: Chapter Questions
Problem 5E
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100%
Economic growth around the world
The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010.
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