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suppose that real gdp per capita in the united states is $32,000, while its annual growth rate is 2%, and that real gdp per capita in china is $4,000, while its annual growth rate is 7%. how long will it take china's real gdp per capita to double? 35 years 10 years 50 years 14 years

Respuesta :

The time in which the real GDP per capita of China will be double is 10 years.

GDP or Gross Domestic Product is defined as the sum of all the goods and services produced within a territory in a year. GDP is a measure of determining the economic worth of a particular country. According to the question GDP per capita of United States is $32000, GDP per capita of China is $4000. The growth rate of US is 2% and growth rate of China is 7%. By the rule of 70 the GDP of China will get double in

70/Growth rate.

So, the GDP of US will get double in 70/2 = 35 years and

The GDP of China will get double in 70/7 = 10 years and the amount will be equal to $8000.

Learn more about Gross Domestic Product at:

brainly.com/question/9775032

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