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In China, suppose GDP per capita grows by 10% per year for 3] years. By how many times does this economy grow? In Japan, suppose
In China, suppose GDP per capita grows by 10% per year for 3] years. By how many times does this economy grow? In Japan, suppose GDP per capita grows by 1.0% per year for 31 years. By how many times does this economy grow? Why are some countries with lower levels of GDP and standards of living able to catch up to the level of more developed countries? C) Workers in less developed countries work longer hours and thus produce more than workers in more developed countries. O Less developed countries tend to have larger populations so, as the economy starts to grow, there are more people they can put to work than more developed countries. 0 Less developed countries can adopt already invented technologies, rapidly enabling their workforce to become more productive. O Wages are really low in less developed countries, so rms can hire more people and produce more than firms in more developed countries
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