In 2014, Ethiopia had a per capita income of $1,500, about $4 per day. Compute per capita

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In 2014, Ethiopia had a per capita income of $1,500, about $4 per day. Compute per capita income in Ethiopia for the year 2050 assuming average annual growth is:
(a) 1% per year.
(b) 2% per year.
(c) 4% per year.
(d) 6% per year.
(For comparison, per capita income in Mexico in the year 2014 was nearly $15,000, about 30 percent of the U.S. level.)

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Macroeconomics

ISBN: 978-0393603767

4th Edition

Authors: Charles I. Jones

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