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The average rate of economic growth per capita in Canada from 2000 to 2010 was 2% per year, while in India over the same period
The average rate of economic growth per capita in Canada from 2000 to 2010 was 2% per year, while in India over the same period it was 4%. Per capita real GDP was $48,900 in Canada in 2010, and $2,100 in India. Assume the growth rates for each country remain the same.
1.Compute the doubling time for Canada's per capita real GDP. What will be the real GDP per capita?
2.Compute the doubling time for India's per capita real GDP. What will be the per capita real GDP?
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