Two economies, Hare and Tortoise, each start with a real GDP per person of ($ 5000) in

Question:

Two economies, Hare and Tortoise, each start with a real GDP per person of $\$ 5000$ in 1950 . Real GDP per person grows 3\% per year in Hare and $1 \%$ per year in Tortoise. In the year 2020, what will be real GDP per person in each economy? Make a guess first; then use a calculator to get the answer.

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