Suppose countries X and Y current have the same level of production. If country X grows at 3.5% and country Y grows at 7%. a) How long will it take for country X's production to double? |years (report your answer to one decimal place) b) How long will it take for country Y's production to double? years (report your answer to one decimal place) c) When country X's production has doubled, how much larger will country Y's production be?

Suppose countries X and Y current have the same level of production. If country X grows at 3.5% and country Y grows at 7%. a) How long will it take for country X's production to double? |years (report your answer to one decimal place) b) How long will it take for country Y's production to double? years (report your answer to one decimal place) c) When country X's production has doubled, how much larger will country Y's production be?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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