1. Richlands real GDP per person is $20 000 and Poorlands real GDP per person is $10...
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1. Richland’s real GDP per person is $20 000 and Poorland’s real GDP per person is $10 000. However, Richland’s real GDP per person is growing at 2 per cent per year and Poorland’s is growing at 4 per cent per year. Compare real GDP per person in the two countries after 10 years and after 20 years. Approximately how many years will it take Poorland to catch up to Richland? LO 13.5 MEDIUM
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