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Assume real per capita GDP inWest Swimsuitis $6,000while inEast Vice Cityit is $1,500. The annual growth rate inWest Swimsuitis 2.33%, while inEast Vice Cityit is
Assume real per capita GDP inWest Swimsuitis $6,000while inEast Vice Cityit is $1,500. The annual growth rate inWest Swimsuitis 2.33%, while inEast Vice Cityit is 7%. How many years will it take forEast Vice Cityto catch up to the real per capita GDP ofWest Swimsuit?
A. About 10 years
B. About 30 years
C. About 40 years
D. About 120 Years
E. East Vice City will never be able to catch up with West Swimsuit
Part 2
What will the income be of the two countries be when it is equal?
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