BuyFind

Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329
BuyFind

Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329

Solutions

Chapter
Section
Chapter 20, Problem 5P
Textbook Problem

Suppose that two poor countries experience different growth rates over time. Country A’s real GDP per capita grows at a rate of 7 percent per year on average, and Country B’s real GDP per capita grows at an average annual rate of only 3 percent. Predict how the standard of living will vary between these two countries over time as a result of divergent growth rates.

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