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Y5 In a rich country it, the gross domestic product 1 per person is r a same {US dollars]. In a poor country 3, the
Y5
In a rich country it, the gross domestic product 1 per person is r a same {US dollars]. In a poor country 3, the GDP per person is p = EDIE]. Suppose that the GDP of country A grows by 5% per year, and that an economic miracle In country B begins to propel a growth of 9% per year. Assume these growth rates are constant. 1} Dyer how many years does the absolute difference in GDP between rich country A and poor country B increase? 2} How many years does it take for the GDP of country B to exceed that of country A? [Justify your answers.)Step by Step Solution
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