Suppose that real GDP per person in Panama in 2017 was about $12,000 per person, while it was about $48,000 per person in the United States. If real GDP per person in Panama grows at the rate of 10 percent per year, about how long will it take Panama's real GDP per person to reach the level that the United States was at in 2017? (Hint. How many times would Panama's 2017 real GDP per person have to double to reach the United States' 2017 real GDP per person?) Instructions: Enter your answer as a whole number. years

Suppose that real GDP per person in Panama in 2017 was about $12,000 per person, while it was about $48,000 per person in the United States. If real GDP per person in Panama grows at the rate of 10 percent per year, about how long will it take Panama's real GDP per person to reach the level that the United States was at in 2017? (Hint. How many times would Panama's 2017 real GDP per person have to double to reach the United States' 2017 real GDP per person?) Instructions: Enter your answer as a whole number. years

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table shows the GDP per capita since 1820 in selectedcountries (in PPP-adjusted 2005 dollars). 1. Identify the countries that experienced sustained growth from 1920 to2010.
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