How to catch up to the living standard of the leader country

Reference no: EM13209977

Assume that a "leader country" has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country?

Reference no: EM13209977

Questions Cloud

Define titrant hcl instead of methyl orange : If phenolphthalein is used as an indicator for titrating Ca(OH)2 with titrant HCl instead of methyl orange, which is the recommended indicatory

Is there any dwl associated with the cartel : The market for qbits is initially competitive and the market demand is: P = 400 - 0.4QD . The combined marginal costs of the firms in the qbit industry are:MC =50 + 0.6Q. Calculate and show how much these firms will sell and what they will charge.

Explain alkyl halides reacts most rapidly via sn1 solvolysis : which of the following alkyl halides reacts most rapidly via SN1 solvolysis reaction in hot methanol? A) 1-iodo-1-methylcyclohexane

Explain octahedral transition metal ions : Octahedral transition metal ions of the 4th period can display both high spin and low spin structures, while the ions of the 5th and 6th periods only show low spin structures.

How to catch up to the living standard of the leader country : Assume that a "leader country" has real GDP per capita of $40,000, whereas a "follower country" has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 7 perc..

Explain volume change upon mixing sufficient ethanol : Calculate the volume change upon mixing sufficient ethanol with 8.85mol of water to give this concentration. The densities of water

Explain a simple distillation or a fractional distillation : Specify whether a simple distillation or a fractional distillation would be more suitable for each of the following purifications, and briefly justify your choice.

Theoretical approaches of interpersonal communication : Analyze the main theoretical approaches of interpersonal communication and emotional intelligence and apply the theoretical framework in their personal and professional lives.

What would be labor supply of female high school graduates : Within this group, the average weekly wage of the high-school graduates is 2/3 the amount of college graduates. Assume that wage elasticity and all other individual characteristics are the same across the education groups.

User Account

All Pages