1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnoma [55]
3 years ago
15

Country A and country B start with the same GDP per capita of $50,000. Country A's GDP per capita grows at a constant rate of 2.

8%, and country B's GDP per capita grows at a constant rate of 1.4%. Compute the difference in GDP per capita for these two countries after 100 years.
HINT: use the rule of 70 to see how long it will take each country to double its GDP per capita.
Social Studies
1 answer:
MA_775_DIABLO [31]3 years ago
4 0

The rule of 70 is a technique used to forecast how many years would take to a variable to double its value. It consists on dividing number 70 by the growth rate of the variable of interest, which in this case is the GDP of countries A and B.

According to the rule of 70, let's compute how long will take for the GDP of each country to double:

  • Country A: 70/2.8= 25 years
  • Country B: 70/1.4=  50 years

As the growth rates are constant, it is possible to compute the exact value of the GDP of each country in 100 years time using the number of years for output duplication.

  • Country A duplicates its growth every 25 years. Hence, it will happen 4 times in 100 years. In year 25, the output will be $100,000. In year 50, it will duplicate again and reach $200,000. The third duplicate will take place in year 75 and GDP will sum $400,000. Finally, in year 100 it will duplicate one last time and country A will end up the century with a GDP per capita of $800,000.
  • Country B duplicates its growth every 50 years. Therefore, it will happen twice in 100 years.  In year 50, the output will be $100,000. In year 100, the last duplicate will take place, and country B will end up with a GDP per capita of $200,000.
You might be interested in
Greg is considering purchasing a new truck, and he wants to purchase the best one within his budget. He has searched the Interne
AleksandrR [38]

Answer:

The answer is rational decision-making.

Explanation:

A person who follows this process will consider the alternatives, as well as the objective merits of a situation. It involves a series of steps which involves establishing a goal, identifying relevant criteria, identifying alternatives, comparing and analysing them, and making the decision.

The purpose of this perspective is to maximize benefits in relation to costs. It assumes that there is available, measurable information about the products.

4 0
3 years ago
Which of these groups was involved in developing the study Charting a National Strategy for the Next Generation of Accountants?
RSB [31]

Answer:

D. all of these

Explanation:

  • The pathway commission is a joint undertaking by the American Association and the AICPA to make a learned profession of the future integrations of the accounting research and the educational practices of the students and the educators.
5 0
3 years ago
What is the main idea of the behavioral perspective on personality? personality is formed solely in childhood. personality is si
olga55 [171]

ᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟ

<span>ᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟᅟ</span>
8 0
3 years ago
Read 2 more answers
Process in which sediment is deposited in layers?
katovenus [111]
The process in which sediment is deposited in layers is called deposition. 
7 0
3 years ago
Read 2 more answers
PLS HELP ON #2 and 3 ASAP . THANKS
Nataly [62]
2. The writer, Ovid, chose that image to show that Midas was greedy and was never satisfied with the treasures he already had.  That contributes to the point that Ovid is trying to make in his story because it shows that if one is too greedy, they will eventually lose something important to them.

3.  At the end of the story, Bacchus has Midas give a reason for him to show him mercy.  He does this to make sure that Midas truly understands that what he did was selfish and that he'd be less greedy in the future.
8 0
3 years ago
Other questions:
  • Why does the United States generally seek to encourage the spread of democracy in the world?
    14·1 answer
  • What is the importance of the United States?<br> I have to write one paragraph.
    12·2 answers
  • Which of the following was a factor in leading to the growth of the factory system of the United States?
    6·2 answers
  • Social psychology is defined as the scientific study of the way people's ________ are influenced by the ________ presence of oth
    8·1 answer
  • Young children tend to learn the most from teachers who use which style?
    14·1 answer
  • All of the following are current issues in politics EXCEPT:
    8·2 answers
  • What are some living things in the desert and their important information?
    11·2 answers
  • Joan avoids talking about her troubled marriage with her psychoanalyst. When she is asked to talk about the relationship, she be
    15·1 answer
  • Which is a characteristic of a federal state?
    5·2 answers
  • ______________ organizations are characterized by many layers of management and function with well-defined rules and procedures.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!