The average growth rate in the United States is about 2.9%, and real GDP per capita is

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The average growth rate in the United States is about 2.9%, and real GDP per capita is about $47,400. The average growth rate in China is 8.5%, and real GDP per capita is about $7,400. The average growth rate in Kenya is less than 2%, and real GDP per capita is about $1,600. Is it possible that the per capita real GDPs of these countries will converge, given enough time? Briefly explain.
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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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