crazecheeca
New member
Suppose real GDP per capita in a rich country is $40,000, and real GDP per capita in a poor country is $10,000. Assume that the rate of growth of GDP per capita is 2.4% per year in the rich country and is 7.2% per year in the poor country. Using the rule of 72, calculate about how many years it will take for GDP per capita in the poor country to catch up with GDP per capita in the rich country.
A. 40 years
B. 30 years
C. 3 years
D. 10 years
E. 60 years
F. 20 years
G. 50 years
A. 40 years
B. 30 years
C. 3 years
D. 10 years
E. 60 years
F. 20 years
G. 50 years