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Assuming that a developing country has a real per capita output of $1,000 and a developed country has a real per capita output of $50,000,
Assuming that a developing country has a real per capita output of $1,000 and a developed country has a real per capita output of $50,000, if both countries experience a 5 percent growth in their real per capita outputs over the course of one year, the absolute difference in their real per capita outputs will converge or diverge by how much? (show work for credit)
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