Question
Suppose that you have the following benchmarking data for the two countries: Saudi Arabia Growth rate per capita Income per capita (S) 4% 20,000
Suppose that you have the following benchmarking data for the two countries: Saudi Arabia Growth rate per capita Income per capita (S) 4% 20,000 USA 2% 64,000 In terms of Income per capita, answer the following questions. 1. Would it be possible for Saudi Arabia to catch up with USA over a period of 35 years? Explain. 2. Would it be possible for Saudi Arabia to catch up with USA over a period of 52 years? Explain 3. How long would it take for Saudi Arabia to catch up with USA?
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