Apply the Rule of 70 to the data in Figure 9-3 to determine how many years it will take each of the countries listed there (except Venezuela) to double its real GDP per capita. Would Indiaʼs real GDP per capita exceed that of the United States in the future if growth rates remain as shown in Figure 9-3? Why or why not?

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Average annual growth rate of real GDP 10% per capita, 1980-2018 8 6 st 4 2 0 -2 7.8% h 4.1% 3.7% 3.0% 1.6% FIGURE 9-3 Comparing Recent Growth Rates 1.3% 0.5% -0.4% China India Ireland Bangladesh United France Argentina Venezuela States Krugman/Wells, Economics, 6e, 2021 Worth Publishers