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
Match the inventors with the inventions. Part A:1. telephone 2. powered, man-piloted aircraft 3. incandescent light bulb 4. asse
Papessa [141]

Answer:

telephone-Alexander Bell

aircraft-Wright

Light bulb- Thomas Edison

Assembly line- Ford

Telegraph -Morse

Steam locomotive-Cooper

sewing machine- Howe

Reaping machine-McCormick

.cotton gin-Eli Whitney

Explanation:

Tfrom the above, we have linked inventors to their inventions. Notable is Thomas Alva Edison (February 11, 1847 – October 18, 1931) who was an American inventor and businessman. Often described too as America's greatest inventor,Thomas has other inventions excluding light bulb/electricity such as:phonograph and the motion picture camera.

6 0
3 years ago
What country speaks English in South America
shtirl [24]

Answer:

Guyana

Explanation:

8 0
2 years ago
Read 2 more answers
How did Spanish exploration change Central and South America
enot [183]

Answer:

Other European countries quickly followed suit and began to explore and invade the New World. ... The Spanish conquistadors invaded areas of Central and South America looking for riches, ultimately destroying the powerful Aztec and Inca cultures.

3 0
3 years ago
Read 2 more answers
When a country increases it's investment in human capital, what is the impact on the country's GDP
Lera25 [3.4K]

Answer:

higher productivity, but another unit of capital would increase output by less than before.

Explanation:

3 0
3 years ago
Definition: This ethnic group is found in northern Iran, northern Iraq, and eastern Turkey, and was targeted by Saddam Hussein i
Luda [366]

The ethnic group in question are the Kurds. The Kurdish people do not have their own state but they are the majority in the autonomous region located in Iraq called the Iraqi Kurdistan. It is estimated that there are up to 45 million Kurds around the world. They speak a language called Kurdish and are classified as a part of the Iranian Peoples which is a group of speakers of the Iranian language  from the Indo-European ethno-linguistic group.





4 0
3 years ago
Read 2 more answers
Other questions:
  • ____________ refers to punishments or sanctions that occur outside of secure correctional facilities, or when offenders are on f
    11·1 answer
  • What is the purpose of government? Select a quotation from a US president. Then, write an argumentative essay that explains why
    11·1 answer
  • A 1992 study of police corruption by the defense personnel security research center found that the single best predictor of corr
    10·1 answer
  • Workplace misbehavior can be categorized in which of the following four​ ways? A. ​Aggression, misdemeanors,​ felonies, and viol
    15·1 answer
  • How fast can a wild turkey fly?<br><br> (a) 20 mph<br> (b) 27 mph<br> (c) 45 mph<br> (d) 55 mph
    7·1 answer
  • Why did the people of Georgia create a new state constitution in 1789? Write one or two paragraphs to answer this question. Expl
    13·1 answer
  • Which city was the home of most movie productions?
    13·2 answers
  • What did Frederick Douglass and Sojourner Truth have in common?
    11·1 answer
  • Galileo used the work of the Muslim Arab scientist Al-Battani to begin his own studies of the universe and its laws. Why was it
    7·2 answers
  • Which approach to social responsibility is best explained by the statement, meet legal and ethical obligations and do more on a
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!