An IAC (industrially advanced country) had a per capita income of $44,000, while a DVC (developing country) had a per capita income of $2,200 in a given year. If both countries experience a per-capita-income growth of 2 percent, then the per-capita-income gap one year later will be Multiple Choice $636. $41,800. $46,200. $42,636
An IAC (industrially advanced country) had a per capita income of $44,000, while a DVC (developing country) had a per capita income of $2,200 in a given year. If both countries experience a per-capita-income growth of 2 percent, then the per-capita-income gap one year later will be Multiple Choice $636. $41,800. $46,200. $42,636
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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