Real GDP per person in the country of Flip is $10,000, and the growth rate is 10 percent a year. Real GDP per person in the country of Flap is $20,000 and the growth rate is 5 percent a year
When will real GDP per person be greater in Flip than in Flap? A) in 2 years
B) in 15 years
C) never
D) in 10 years
B
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The government proposes a tax on halogen light bulbs. Sellers will bear the entire burden of the tax if the
A) demand curve is downward sloping and the supply curve is upward sloping. B) demand curve for halogen bulbs is horizontal. C) demand curve for halogen bulbs is vertical. D) supply curve of halogen bulbs is horizontal.
How did the European single currency evolved?
What will be an ideal response?
Suppose that the capital stock initially is 1000, the depreciation rate is 0.08, and investment is 220. This makes the net growth of the capital stock
A) 300. B) 237.6. C) 202.4. D) 140.
If the long-run supply curve is upward-sloping, it indicates that resource prices fall when:
A. Production in the industry decreases in the long run B. Production in the industry increases in the long run C. New firms enter the industry D. Short-run profits in the industry are positive