Compare a hypothetical DVC with a hypothetical IAC. In the DVC, average per capita income is $500
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Compare a hypothetical DVC with a hypothetical IAC. In the DVC, average per capita income is $500 per year. In the IAC, average per capita income is $40,000 per year. If both countries have a savings rate of 10 percent per year, the amount of savings per capita in the DVC will be _____ per person per year while in the IAC it will be _______ per person per year.
a. $50; $4000.
b. $5; $400.
c. $450; $36,000.
d. None of the above.
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Related Book For
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
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