The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year,
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Question:
The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was 4.2%. Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each country remain the same.
- Compute the doubling time for France's per capita real GDP.
- Compute the doubling time for Korea's per capita real GDP.
- What will France's per capita real GDP be in 2045?
- What will Korea's per capita real GDP be in 2045?
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