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 agiven year. If both countries experience a per-capita-income growth of 2 percent, then the per-capita-income gap one year later will beMultiple ChoiceO$636$41,800.$46,200.$42,636

Per capita income is the total income divided by country's population.It is an important economic…

Answered: An IAC (industrially advanced country)…

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter21: Economic Development

Section: Chapter Questions

Problem 1.1P

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