Country A is $25,000 and County B is $4,000 per capita GDP in 2010. the rate of economic in county A is 3% and counrty B is 2% 1. uppose the growth rate of A country is constant. How fast does the income gap level($21,000 difference) at this point need to grow to become that income gap level in 2030? 2. Suppose the growth rate of country B is 6%, how many years does it take to bridge the income gap?
Country A is $25,000 and County B is $4,000 per capita GDP in 2010. the rate of economic in county A is 3% and counrty B is 2% 1. uppose the growth rate of A country is constant. How fast does the income gap level($21,000 difference) at this point need to grow to become that income gap level in 2030? 2. Suppose the growth rate of country B is 6%, how many years does it take to bridge the income gap?
Chapter1: Making Economics Decisions
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![Country A is $25,000 and County B is $4,000
per capita GDP in 2010.
the rate of economic in county A is 3% and
counrty B is 2%
1. uppose the growth rate of A country is
constant. How fast does the income gap
level($21,000 difference) at this point
need to grow to become that income gap
level in 2030?
2. Suppose the growth rate of country B is
6%, how many years does it take to
bridge the income gap?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F706868b3-08c2-4b2b-9528-1569be398e26%2Fcc31d3e8-a91e-4022-9775-e281061e481c%2Fvbwpeto_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Country A is $25,000 and County B is $4,000
per capita GDP in 2010.
the rate of economic in county A is 3% and
counrty B is 2%
1. uppose the growth rate of A country is
constant. How fast does the income gap
level($21,000 difference) at this point
need to grow to become that income gap
level in 2030?
2. Suppose the growth rate of country B is
6%, how many years does it take to
bridge the income gap?
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