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In 2012, the country of Volcania had a GDP of 32800 and the country of Singsville had a GDP of 16400, which is half, or
In 2012, the country of Volcania had a GDP of 32800 and the country of Singsville had a GDP of 16400, which is half, or 50% of Volcania's GDP. If Volcania grows at the slow rate of 1.5% for 5 years while Singsville grows at the fast rate of 8% for 5 years, what will Singsville's GDP be as a percentage of Volcania's GDP in 5 years from now? Does this example illustrate the concept of convergence? Yes or No
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