What accounts for the magnitude of the difference

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Per capita GDP in country A and country B is $10,000. Country A's government creates policies and institutions that result in economic growth of 1.5% per year. Country B's government creates policies and institutions that result in 3% economic growth per year. In 50 years what will the per capita GDP in each country be? What accounts for the magnitude of the difference?

Reference no: EM13208835

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