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In country A, the GDP 1 per capita is r = 53,000 {US dollars]. In country 0, the GDP 2 per capita is p =
In country A, the GDP 1 per capita is r = 53,000 {US dollars]. In country 0, the GDP 2 per capita is p = 1000. Suppose the GDP of country A grows by 5% per yea r, and that an economic miracle in country El begins to propel a growth of 0% per year. Assume that these growth rates are constant 3. Justify your answers. 1. Over how many years does the absolute difference in GDP between rich country A and poor country 0 grow? 2. How many years does it take for the GDP of country B to exceed that of country A
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