Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year) Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year)
Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year. How long will it take for U.S. real GDP per capita to double at this growth rate? If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S years (round to nearest year) Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year) How long will it take for U.S. real GDP per capita to double at this growth rate? years (round to nearest year)
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 5P
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Transcribed Image Text:Suppose that U.S. real GDP per capita is $50,000 and grows on average at 3% per year.
How long will it take for U.S. real GDP per capita to double at this growth rate?
If this growth rate continues, what will U.S. real GDP
r capita be in 70 years? S
Suppose that U.S. real GDP per capita is $50,000 and grows on average at 5% per year (rather than 3% a year)
How long will it take for U.S. real GDP per capita to double at this growth rate?
years (round to nearest year)
If this growth rate continues, what will U.S. real GDP per capita be in 70 years? S
years (round to nearest year)
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